Posts tagged: Acquisition

Xerox Sells Stake in Fuji Xerox Joint Venture

Ron Gilboa
 Nov 11, 2019

On November 5th, Xerox announced that it is selling its 25% stake in Fuji Xerox to Japanese partner Fujifilm for $2.3 billion, ending a 57-year joint venture. The deal gives Fujifilm 100% ownership of Fuji Xerox, over a year after it failed to acquire majority ownership of Xerox and merge it into Fuji Xerox.

Xerox is also selling a majority stake in a smaller joint venture (Xerox International Partners) to an affiliate of Fuji Xerox and the amount of time Fujifilm will be a significant Xerox supplier has been extended.

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Pitney Bowes Slices Off More Software – SyncSort is the Beneficiary

Marc Mascara
 Sep 5, 2019

As Pitney Bowes adds to the Syncsort arsenal of software solutions with the recent acquisitions of SQData and Pitney Bowes Software solutions, the company looks to focus on its core business in the mail and shipping space. Just a few weeks after announcing a cash dividend of $0.05 per share, Pitney embarked on a move that would help the company pay down its near-term debt as it comes to maturity.

On August 26th Pitney announced its intention to shed the bulk of its Software Solutions business for nearly $700M in cash to Syncsort. Pitney looks to maintain their hold in their current markets they serve by refocusing on the client experience for companies that mail and ship by taking out process complexities. By shedding its software business Pitney is continuing its initiative to streamline operations and reduce its overall spend. Performance of Pitney’s software business has been lagging, pointing to a reduction in YOY renewals and an overall reduction in new clients. Pitney notes that one of their key strategies for growth is to increase shareholder value. Over the past few years, Pitney has divested many technologies, including its (DMT) Document Messaging Technologies (now BlueCrest) and their European SMB business.

As Pitney looks to reinvigorate its core focus on mail and shipping, we expect the partnership with the USPS to continue and grow. That said, there is a close watch at how the current and ever-changing US trade war with China will impact Pitney’s bottom line due to its growing business handling parcels from China. With the impending sale to Syncsort and the expected trade war impact, Pitney has adjusted its 2019 earnings forecast down from a range of $.90 / $1.05 to $.65 / $.75 respectively with full-year revenues in the 1 to 2 percent range.

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Sign of the times – SGIA Acquires NAPCO Media

Ron Gilboa
 Aug 7, 2019

On August 6, 2019 the Specialty Graphic Imaging Association (SGIA) announced that it has acquired NAPCO Media. “Under the terms of the agreement, which has been unanimously approved by SGIA’s Board of Directors, NAPCO Media – owners of Printing Impressions, Packaging Impressions, Promo Marketing, In-Plant Impressions, Total Retail, Target Marketing, and Wide-Format Impressions – will become an LLC and will continue to operate as an independent entity. All NAPCO Media staff and business units will remain in place. SGIA offices and NAPCO Media offices will continue to reside in Fairfax, Va., and Philadelphia, Pa., respectively. “

Since the 2017 announcement of the strategic partnership between SGIA and NAPCO to create the Printing United show, both vendors and print service providers have been abuzz about what this new relationship will bring to the industry at large. As industry segments such as sign & display, commercial printing, and packaging are becoming attractive to different types of PSPs, they are all looking to add value to clients and invest in the supporting technologies. In past decades technology capital expenditures and labor costs were barriers PSPs had to overcome a transition from one segment to another. Today with advancements in internet-based communications, cloud computing, digital workflow, and the growth in digital printing equipment, many PSPs can now reach out to adjacent segments using these technologies for the benefit of their clients, meeting the demand for mass customization and timely production. Read more »

Ricoh Expands Workflow Portfolio with DocuWare Acquisition

Jamie Bsales
 Jul 16, 2019

Just when we thought the era of document imaging OEMs purchasing document imaging software developers had passed, Japan’s Ricoh surprised us early in July by announcing a definitive agreement to acquire Germany- and U.S.-based DocuWare, one of the leading content management solutions vendors. The move puts Ricoh’s worldwide operating companies on equal footing with Canon and Xerox, which both have content management development capabilities in-house with their Therefore and DocuShare divisions. (And for those who have been keeping track, Lexmark, too, had owned an ECM developer in Perceptive Software, before shedding its enterprise software business to private equity firm Thoma Bravo in 2017.)

The content management space is certainly a growth area for the imaging industry. Keypoint Intelligence’s analysis shows the market for such solutions growing at an annual clip approaching 4% each of the next 4 years. And in a recent Keypoint Intelligence survey of IT decision makers in the U.S., U.K. and Germany, 35% of respondents overall reported that they are considering investing in a document management solution in the coming 18 to 24 months.

Are you considering purchasing document management software?

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Changing the Landscape of Décor Print Industry: Toppan’s Acquisition of Interprint

Ron Gilboa
 Jul 2, 2019

Observers of the global print industry recently got more evidence of the power Japan-based Toppan’s drive to expand its industrial print operations and marketing. On June 24, Toppan Printing Co., Ltd., announced it has acquired 100% of Interprint GmbH (Germany), a global printer of décor materials such as wallpaper and laminates. Dubbing Toppan as just a printing company does not do justice to this giant organization, which has been an innovator in print and related activities for over a century. Today, it is a leading supplier of print, equipment, and services to a wide range of segments, including décor, packaging, and other industrial applications. On June 27th, 2019 Toppan also announced a new president, Mr. Hideharu Maro. As part of the announcment, Toppan stated “Mr. Maro takes over at a time when digital transformation and changing market dynamics are creating new openings and opportunities for the printing industry. Toppan has identified packaging, décor materials, and security solutions as its main growth engines globally and is strengthening the well-established international network of its electronics business.”

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EFI Strengthens Textile Ink Production with Acquisition of BDR

Ron Gilboa
 May 6, 2019

On May 2nd, Electronics for Imaging (EFI) announced it had reached a deal to acquire privately-owned Turkish company BDR Boya Kimya (BDR). BDR is a worldwide supplier of textile inks and will be incorporated into EFI Reggiani, expanding the company’s digital textile solutions. EFI has stated that BDR’s Turkish operations will remain as they are, with all BDR employees joining the EFI team and continuing product support and development.

“We are excited to have the BDR team on board and to fully support their industry-leading customers,” said EFI Reggiani Vice President and General Manager Adele Genoni. “The synergies arising with BDR and the world-class portfolio of EFI Reggiani textile printers will be a key point of emphasis for us to continue providing high-quality products and innovation. EFI Reggiani is also significantly strengthening its presence in Turkey with this acquisition, which brings us to the heart of an important and growing textile hub.”

EFI Reactive Textile Inks

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Siris Capital Acquires EFI in First Deal of Technology Buyout Fund

Ron Gilboa
 Apr 15, 2019

EFI: The Acquirer is Acquired
Siris Capital Group, LLC, a New York City-based private equity firm founded in 2011, announced the acquisition of Electronics for Imaging, Inc. (EFI) earlier today. The buyout is a pivotal moment for both graphic arts and industrial segments due to both the size and role that EFI plays throughout the industry; it is also a tribute to EFI’s skill, not only at acquiring promising companies over time, but also enlisting their talents and technologies to create synergy for whole of EFI. EFI’s many parts, from the original Fiery business to the industrial print technology divisions that EFI has acquired or developed over time, have become strategic partnerships, ones spanning hardware and software in sectors as diverse as networked office printers, sign & display graphics, ceramic, textile, and corrugated printing, all aided by a vast portfolio of workflow solutions.

The details of the transaction include a $1.7 billion all-cash investment which values EFI stock at $37 per share, approximately a 45% premium over the 90-day volume-weighted average price on April 12, 2019. Although the deal is expected to close by the third quarter of 2019, EFI can accept proposals from other companies over the next 45 calendar days.

Siris’ First Deal in Technology Buyout Fund
Private equity firms continue to focus on print-related technology companies with solid cash flows and future earnings potential as the analog-to-digital transformation continues for segments in our industry. Frank Baker, a Siris Co-Founder and Managing Partner, commenting on the role that EFI plays in enabling digital transformations, said  “We believe that, by partnering with Siris, EFI will be well positioned to capture this transformational opportunity associated with increased digital inkjet penetration, industrial automation and software enablement. We are eager to partner with management to help the Company achieve its strategic objectives.”

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More Consolidation as Fiserv Acquires First Data

Pat McGrew
 Jan 18, 2019

Billing and statement processing outsourcers with payment capabilities are continuing to consolidate in an attempt to dominate both the global payment and FinTech markets. On January 14th, 2019, Fiserv and First Data announced that they plan to consolidate their complementary technologies through a $22 billion deal that unites their strong merchant payment platforms, digital banking/billing solutions, and risk management options. Once the acquisition is complete (planned for 2H2019), Fiserv intends to refinance approximately $17 billion in First Data debt and to operate the combined business under the Fiserv name.

Fiserv and First Data

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Kofax to Acquire Nuance’s Document Imaging Business

Christine Dunne Dunne
 Nov 16, 2018

On November 12, Kofax announced its intention to acquire the Nuance Document Imaging (NDI) division of Nuance Communications. If the deal closes as expected in Q1 of 2019, the move will catapult Kofax—already the 800-pound gorilla in the document capture market—to the leadership position in print-management and cost-recovery solutions, too. NDI itself is a product of Nuance’s once-acquisitive nature.

Source: http://www.picpedia.org/highway-signs/a/acquisition.html

The division’s portfolio of document solutions includes a host of product families purchased over the past decade or so, such as Equitrac (purchased in 2011), Output Manager (which came with the NSi acquisition in 2014), and Safecom (bought in 2012) for print management; Equitrac Professional and Copitrak (added in 2012) for cost recovery; AutoStore (another NSi product) and eCopy (acquired in 2009) for document capture and workflow; Business Connect for mobile document imaging; and OmniPage, PaperPort, and Power PDF for PDF and document conversion (these products, or the seeds for them, came from the original merger between Nuance and ScanSoft in 2005). Read more »

HP acquires Apogee

Deborah Hawkins
 Aug 8, 2018

On the 1st August 2018, HP Inc signed a definitive agreement to acquire all shares of Apogee.

The UK based office equipment dealer claims to be Europe’s largest independent provider of print outsourced services and document and process technology. The transaction values Apogee as of closing at GBP380m

Why Apogee?

This acquisition is a continuation of HP’s strategy to expand its contractual sales strategy and disrupt the A3 office market which began with HP’s acquisition of Samsung Printing in September 2016. Since that time, HP has been recruiting selective office equipment dealers that offer higher margin services, to its partner program across the globe. Read more »

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