As part of its global growth strategy, Ricoh plans to purchase Ikon Office Solutions.

By Bob Neubauer

In late June, Konica Minolta Business Solutions USA completed its acquisition of Danka Office Imaging, strengthening its distribution capabilities. Now Ricoh is about take the same approach.

The company just announced plans to acquire Ikon Office Solutions, the only remaining large, independent U.S. distributor of printers, copiers and MFPs. The $1.617 billion deal, ambitiously targeted to close during the fourth quarter of 2008, has been approved by both boards of directors, though it still requires approval of shareholders and North American and European antitrust authorities.

“Ikon has terrific strength in areas that complement Ricoh’s growth strategy,” says Shiro Kondo, president and CEO of Ricoh Co. “IKON has advanced professional services capabilities with a long list of satisfied large customers. Ikon is respected as well for its production print sales and service expertise.”

Ricoh Americas Corp., a wholly owned U.S. distribution subsidiary of Tokyo-based Ricoh Co., Ltd., will facilitate the acquisition by merging its own subsidiary, Keystone Acquisition, Inc., with Ikon.

Ikon supplies and services a range of office equipment, such as multi-function printers, fax machines and printers. It has more than 400 sales and service locations and counts many Fortune 500 companies and government agencies among its customers. This acquisition is yet another step in Ricoh’s integrated global growth strategy.

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Bob Neubauer Author's page

Bob has served as editor of In-plant Impressions since October of 1994. Prior to that he served for three years as managing editor of Printing Impressions, a commercial printing publication. Mr. Neubauer is very active in the U.S. in-plant industry. He attends all the major in-plant conferences and has visited more than 180 in-plant operations around the world. He has given presentations to numerous in-plant groups in the U.S., Canada and Australia, including the Association of College and University Printers and the In-plant Printing and Mailing Association. He also coordinates the annual In-Print contest, co-sponsored by IPMA and In-plant Impressions.

Ricoh to Purchase Ikon