TPG and Cognitive Merge under ATSI Holdings Name Strengthening their Position in the Transaction and Barcode Printing Industry
Lincolnshire, IL, July 11, 2007 - Transaction Printer Group (TPG), designer and manufacturer of thermal and impact Banking and POS/Retail printers, announced a merger with Cognitive Solutions, designer and manufacturer of thermal barcode printing solutions. The announcement was made at the ScanSource Impact Now reseller event in San Diego.
TPG (www.tpgprinters.com) and Cognitive Solutions. (www.cognitive.com), both wholly owned subsidiaries of ATSI Holdings, Inc. Chicago, are integrating their business operations across all functional areas. Both businesses have a long and distinguished record of product innovation and service to their respective markets. The merger strengthens their collective market and product positions through increased investment in new products, deeper customer relationships, and greater geographic presence.
The integration creates a company that builds upon individual product strengths in the desktop and point-of-sale printer segments. Both the TPG and Cognitive brands are well recognized in their respective markets and both brands will be maintained. The TPG/Cognitive combination adds new breadth of product line and worldwide distribution to transaction and barcode printing solutions for the retail, hospitality, banking, manufacturing and healthcare segments.
The combined sales organization is already in place and other functional areas are being integrated. The company will maintain two distinct engineering centers of excellence; in Golden, Colorado for thermal barcode printers and Ithaca, New York for POS printers.
Robert Morris, CEO of TPG, will become the President and Chief Executive Officer of the combined company, under the ATSI Holdings, Inc. name. According to Morris, "The new company will offer a unique value proposition to its customers by offering a complete line of transaction printing solutions. We intend to accelerate the development of innovative products in our primary segments and to fully develop our cross-over application and product synergies."
"The Cognitive/TPG combination just makes good business sense. We have a common distribution strategy and already share many of the same channel partners. We have similar vertical market strategies and global expansion initiatives. We stand apart in our ability to provide customers with both front and back-office thermal printing solutions," said Barry Knott, CEO of Cognitive Solutions. Mr. Knott becomes Senior Vice President of Sales and Chief Marketing Officer of the combined businesses.
About Transaction Printer Group
Transaction Printer Group (TPG) is known as a global leader in the design, manufacture, and marketing of thermal and impact POS/Retail and Banking printers, including impact printheads. TPG is dedicated to delivering specialized hardware and software solutions. TPG's printers, mechanisms, and software can be found in many applications such as Retail/POS, Self-Service, Banking, Hospitality, and the Gaming/Lottery markets.
About Cognitive Solutions
Cognitive Solutions is a global provider of high performance thermal desktop printing solutions for the Retail, Healthcare, Manufacturing, and Service industries. Cognitive has operations in North America, Latin America, Europe and Asia.