PARIS—Konica Minolta has purchased a 10% stake in MGI Digital Graphic Technology valued at €13.7 million ($20.4 million), eyeing a stronger presence in the digital printing market.

"We are very happy and proud that Konica Minolta recognizes our accomplishments and our unique capacity to innovate," said Edmond Abergnel, chief executive officer and chairman of MGI, in a joint statement. "This strategic alliance will be the basis for the development of tomorrow's innovative digital solutions."

While MGI remains an independent, autonomous organization, the companies will co-develop and co-market existing and future products, including but not limited to the Meteor digital press line.