Ricoh, IBM Form Joint Venture

Trends like variable data printing and print on demand prompted Ricoh to make this move, he said.

Ricoh will acquire the remaining 49 percent of the joint venture over the next three years, which will help smooth the transition.

IBM, which will bring in $725 million in cash through this deal, decided to sell its Printing Systems Division when it became clear the company would not be able to make the necessary changes to nurture and grow the business, said IBM Executive Vice President Nick Donofrio.