Creo invests 16m in PrintCafe

Creo has invested 16.4m ($23.6m) in PrintCafe as part of a 27.5m private placement of equity and debt.

The secured long-term debt investment will increase Creo's voting interest in the print management system supplier from just over 17% to 40%.

Creo chief executive Amos Michelson will continue to serve as chair of the PrintCafe board, and an additional Creo representative will be named soon.

PrintCafe president and chief executive Marc Olin said: "We are very pleased to be entering the new year with a strong balance sheet that allows us to power our own success from here."