Domino has taken total ownership of Graph-Tech in a deal worth up to ￡19.1m.

Cambridge-headquartered Domino has worked with Graph-Tech since the 1990s, and took a 19% stake in the Swiss inkjet developer in 1999.

Graph-Tech is known for its innovative work on inkjet systems, including controllers, and manufactures two of Domino's key new product lines: the K-Series overprinting heads and N600i inkjet label press.

Domino group managing director Nigel Bond said the PLC's latest acquisition coincided with the successful introduction of these new products at Drupa: "We believe these products combined with planned new developments will provide us with significant opportunity to capitalise on the growth in use of digital printing technology, in both printing and packaging applications," he said.

Graph-Tech also has its own product range. At Drupa it introduced the MonoCube, a compact and simple-to-use inkjet web printer aimed at transactional and book printing applications.

The company also worked behind-the-scenes on the technical integration for the 'ink ejectors' used by Landa for its Nanography digital printing process.

The acquisition deal comprises CHF18.63m (￡12.4m) in cash plus an additional CHF10m payable if the business achieves performance targets over three years. CHF3.1m of the consideration has been held back subject to Graph-Tech owners Piero Pierantozzi, Walter Urech, Marcel Galliker and Peter Brandenberger remaining with the business for three years.

Their fellow owner Markus Portmann is leaving to become a reseller of Graph-Tech products in the Americas.

The Graph-Tech deal is the fourth acquisition-related transaction for ￡314m turnover Domino this year. The group's share price rose 11p to 556p on the news.