By Paul Kunert28 August 2008
Ricoh may have set the cat among the pigeons by splashing
out $1.6bn (£873m) on print services integrator Ikon Office Solutions.
This comes at a time when Ricoh is trying to strengthen ties
with IT resellers and may also serve to dilute the independence of Ikon, which
carries a range of hardware from competing printer and copier vendors.
In a fast growing printing and document solutions market,
the challenge facing Ricoh is to “strengthen channels” for assessing customers’
needs and offering advice, the copier vendor said in a statement.
“Ikon has terrific strength in areas that complement Ricoh’s
growth strategy,” said Shiron Kondo, Ricoh CEO, these include a professional
services capabilities that come with a list of large customers, he added.
Following an extensive review of strategic opportunities,
Mathew Espe, CEO at Ikon said the board has approved the deal that represented
a 33% premium over the daily closing price for share over the last 60 days.
He added that joining forces with Ricoh meant Ikon could
strengthen its offer to customers and create new opportunities for employees.
As a result of acquisition, Ikon’s 400 sales and services
locations in the North America and Western Europe
will bolster Ricoh’s business infrastructure, the firms said.
The deal is subject to approval by shareholders and
anti-trust authorities in Europe and the US.
