Inca Digital Printers Ltd. Nigel R. Puttergill

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Inca Digital Printers – the beginning

• Founded May 2000, by Bill Baxter (CEO) and six colleagues

• Purpose – to develop, build and sell industrial / commercial UV inkjet printers

• Spin-off from Cambridge Consultants (one of many)

1970 1980 1990 2000

Domino Linx ElmjetVideojet

Xaar Inca

Cambridge Consultants Ltd (CCL)1970 1980 1990 2000

Domino Linx ElmjetVideojet

Xaar Inca

Cambridge Consultants Ltd (CCL)

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Venture Capital Funded

At launch (May 2000) Inca was valued at £6M

A second round raised £2M leaving:Advent Venture Partners 36%Small financial investor 3%Cambridge Consultants 14%Founders 37%ESOP 10%

£600k

£1.5M7 people+ IP

Cambridge Consultants

Ltd (CCL)

Advent Venture Partners

(AVP)CCL15%

Founders39%

ESOP

AVP35%

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Financials

Year 1 Year 2 Year 3 Year 4 Year 5

Sales £0.8m £5.1m £11.3m £14m £19mProfit/loss (£1.4m) (£2.7m) £0.3m £1.0m £1.5m

Staff 22 65 90 105 130

Inca grew quickly and is cash neutral

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The Products & Awards

Columbia Turbo

Spyder 320

Queen’s Award for Enterprise: International Trade - 2005

Queen’s Award for Enterprise: Innovation - 2005

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The Exit

NEWS RELEASE  Dainippon Screen acquires Inca Digital Printers Acquisition links innovative wide format digital inkjet specialist with world’s leading manufacturer of equipment for the digital prepress, printing, semiconductor and flat panel display industries. 2nd June 2005 : Today Dainippon Screen Mfg. Co., Ltd (Kyoto, Japan) announces that it has acquired Inca Digital Printers, the specialist wide-format digital inkjet printer manufacturer, in an agreement totaling UK poundsproducts perfectly. Significantly, Inca’s expertise gives us access to important new markets in industrial printing and packaging. By combining Inca’s expertise in wide format inkjet printing, with Screen’s considerable experience in the media technology, semi-conductor and flat-panel display industries we can further strengthen and grow Inca and Dainippon Screen’s businesses, while working together to develop new applications across multiple sectors in the future.”

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Dainippon Screen Mfg. Co., Ltd.

Kyoto based manufacturer of capital equipment for:• Graphic arts• Semiconductor• Flat Panel• Precision measuring equipment

• Revenue - $2.46 billion

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Why Dainippon Screen acquired Inca Digital?

• Investing in Inkjet for the future of graphic arts business

• Investigating inkjet technology for applications in printed electronics and flat panel

• Inca has advanced UV inkjet know how

• Inca products address new market segment for Screen (Graphics)

• Screen recognized the importance of the inkjet community in Cambridge

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The importance of Cambridge to Inca’s success

• Easy to form a spin-off company in Cambridge• It’s an established process• There is local expertise• Specialized legal resources (IP & company set-up)• Cambridge has high profile for VC companies• Tax incentives (EMI & EIS)

• Large pool of technical resource (people)

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Thank you for your attention