Year in Review--A Torrent of M&A

Chicago-based Global Docu-GraphiX was quieter this year, but did add Jackson, TN-based Dugger Business Forms to its operation.

To add to the mix, there were also literally dozens of mergers and acquisitions that took place among the small- and mid-sized companies.

Perhaps the most disheartening story of the year was that of American Banknote and its former subsidiary, American Bank Note Holographics. Both companies spent the year dealing with a class-action lawsuit by shareholders that alleged violations of the federal securities laws after American Bank Note Holographics was forced to revise financial statements for 1996, 1997 and the first three quarters of 1998. American Banknote stock lost 95 percent of its value and was withdrawn from the New York Stock Exchange.