This includes its manufacturing facilities and staff, but not some of the companies from which, historically, Gandi was formed, such as Superwide Connection. Agfa Graphics' vice president inkjet Richard Barham said "the structure of the companies is complex," but that Agfa "is not buying shares, we bought the assets... the debts of the companies stay with the companies - we get the assets clear of any liabilities."

The agreement for the sale was reached with the court approved monitor which oversees Gandi's restructuring during the creditor protection. However it is expected to need a four- to eight-week period to gain court approval and to pass muster with the regulation authorities. Financial details were not disclosed, but the company maintained that it will have no major impact on Agfa's financial debt.

The Canadian inkjet specialist first revealed it was to pursue a sale through court documents posted on 26 June.

The Gandi products would sit within Agfa's range of inkjet presses, sitting in between the likes of the high end M-Press Tiger industrial flatbed inkjet press and the newly launched printing engines in the Anapurna large format range.

Although no plans have been formally announced regarding how the Gandi name will be incorporated, Barham said it would most likely become an Agfa brand in the same way Dotrix has in the past.

However, he said it is difficult to gauge the combined market share, as Gandi makes aqueous, solvent and UV presses.

"The combination of Gandi Innovations' products and Agfa Graphics' products will result in substantial growth for our inkjet business based on an even more complete system portfolio," said Barham. "This is an important step in implementing our inkjet growth strategy. As our own portfolio consists of entry-level and high-end inkjet systems, Gandi Innovations' mid-range systems are a 100% complementary fit with our existing inkjet technology."

He said that Agfa had made offers of employment to Gandi staff and that there were no planned redundancies. According to Barham there are 1,625 Gandi systems with customers and that those customers will be contacted by Agfa and assured of the continuity of service.

The 256-staff company was first placed into Companies' Creditors Arrangement Act bankruptcy protection on 8 May. It was founded in 2001 with headquarters and production facilities in Mississauga (Canada) and recorded sales for 2008 of $127m (£76m).

The acquisition is subject to regulatory and court approval and the successful closing of the transaction. Financial details were not disclosed, but the company maintained that it will have no major impact on Agfa's financial debt.