Print-on-demand firm Prodigi has acquired a Shoreditch-based tech company, from Canon Europe for an undisclosed sum.
Cardiff-heaquartered Prodigi and newly acquired firm Kite are print API businesses, specialising in the sale of of high-volume, print on demand clothing and products using a software connected network of integrated print labs.
Kite, founded in 2014, was itself acquired by Canon in 2017 as part of a strategy to expand its digital services portfolio.
David Gross, Senior Director, Digital Sales and Experience for Canon Europe said: “Having nurtured and grown the business, we are pleased to have found the right home for the Kite team.
鈥淧rodigi are recognised as one of the leading print on demand platforms and the two businesses have worked closely together as print partners for many years. We wish them all the best for the future.鈥�
James Old, Chief Executive Officer, Prodigi, added: 鈥淭he addition of Kite greatly enhances our mission to make global printing, local. Printing products closer to customers is greener, cheaper and faster and combining Kite鈥檚 software with our API platform will help our customers sell more, with greater scale and lower costs.鈥�
Unlike Kite, Prodigi operates a vertically integrated business model, combining in-house printing in the UK and the Netherlands with a significantly larger global network of print partners than Kite鈥檚 customers have previously had access to.
Old added: 鈥淐ombining Prodigi鈥檚 scale and experience with Kite鈥檚 software expertise will provide our customers with unparalleled tools to grow their print on demand businesses. We鈥檙e already helping thousands of entrepreneurs build meaningful startups and the addition of Kite will create even more distribution channels for them.鈥�
Following the acquisition, Kite will remain based in London, with the team focusing on integrating their eCommerce products with Prodigi鈥檚 print API.
Charlie Carpenter, Founder and CEO of Kite, said: 鈥淚 am excited that Kite will be joining the Prodigi family. Not only does Prodigi have deep expertise in our core market, its vertically integrated business model and global reach will help our clients grow significantly.鈥�