In April 2011 Domino Printing Sciences PLC ('Domino') invested $50m in TEN Media LLC ('TEN'), a business based in California, USA set up to implement improved food safety monitoring, freshness and traceability systems in the egg industry.
We announce today, that Omron Automation & Safety ('Omron'), a key supplier to the project, has elected to join the founding shareholders, and has invested as a minority shareholder, valuing TEN at $500m, a 50% increase in value, since its incorporation 12 months ago. Omron's investment dilutes Domino's holding down to 14.85%, valuing our shareholding at $74.25m.
Omron will provide manufacturing and procurement services, automation hardware and engineering support to TEN.
Nigel Bond, Domino Managing Director commented: "We are delighted that Omron, a significant supplier from the outset of the project, has decided to become a strategic partner in the business venture through this investment. Omron, a proven technology provider over many years, will help enhance TEN's product offerings and is a great addition to the team."
This information is provided by RNS
The company news service from the London Stock Exchange
Datafeed and UK data supplied by NETbuilder and Interactive Data.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk!
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.