WOBURN, Mass.--(BUSINESS WIRE)--Monotype Imaging Holdings Inc. (Nasdaq: TYPE) today announced a restructuring of the Olapic business designed to accelerate its integration into the core Monotype business, thereby helping Monotype to drive improved growth and customer value for the Olapic offerings, and to calibrate investments to better support the Olapic business over time. As a result, Monotype has reduced its headcount by 80 positions, primarily Olapic employees.

“As mentioned on our Q3 earnings call, we’ve learned a lot about the Olapic business in the last year. We believe that integrating the go-to-market teams and focusing our efforts on key vertical markets will help us drive faster growth and better serve our customers over the long term,” said Scott Landers, president and CEO at Monotype. “By aligning the products, programs and people to the market opportunities, we anticipate that the Olapic business will be breakeven for the full year in 2018, sooner than originally expected.”

Landers continued, “Monotype’s business is solid and growing – as evidenced by our strong Q3 performance, where we delivered revenue at the high end of our guidance range and profit above expectations, and we are reiterating the financial guidance we provided on our last earnings call. We believe today’s actions align our resources and will help us drive Olapic growth in 2018, with significant improvements in profitability.”

About Monotype

Monotype provides the design assets, technology and expertise that help create beautiful, authentic and impactful brands that customers will engage with and value, wherever they experience the brand, now and in the future. Further information is available at www.monotype.com. Follow Monotype on Twitter, Instagram and LinkedIn.