Terms of the deal, which is expected to be completed within a month, were not revealed but Gerber said that it would use proceeds to reduce outstanding debt and for general corporate purposes.
"We acquired Foba as part of our acquisition of Virtek Vision International last year," said Gerber president and chief executive Marc Giles. "It is not a core strategic focus for us. This transaction represents one of several potential non-core/non-strategic asset sales that we have been reviewing."
Gerber is based in Connecticut, USA, and its divisions Gerber Scientific Products and Spandex serve the sign and graphics sectors with equipment, including the Solara Ion UV-cured flatbed printer; software and consumables.
Gerber sells laser marking division to Videojet as part of strategic review
Specialist graphics firm Gerber Scientific has signed a definitive agreement to sell its laser marking and engraving business unit Foba Technology to the laser business of Videojet Technologies.
