Agfa has announced that it is selling its font business Agfa Monotype to private equity firm TA Associates for $169 million (around £92.4 million).

Agfa Monotype, a provider of fonts and font-related software, will now be known as Monotype Imaging. Agfa claims that the sale will help it focus better on strengthening its position in the pre-press market and industrial inkjet printing.

Agfa also claims that TA Associates is committed to investing in Monotype Imaging and the sale will place the typography business in a stronger position.