Konica Minolta Completes Acquisition of Danka Office Imaging Company
$240 Million Deal Alters Industry Landscape
Ramsey, N.J. - June 27, 2008 - Konica Minolta Business Solutions U.S.A., Inc. (Konica Minolta), a leading provider of advanced imaging and networking technologies for the desktop to the print shop, today announced it has completed its acquisition of Danka Office Imaging Company (Danka), one of the largest independent suppliers of office imaging equipment, software, support, and related services and supplies in the United States.
Under the terms of the $240 Million agreement, the former Danka group will be known officially as Konica Minolta Danka Imaging, and will begin immediately to market Konica Minolta's award-winning lines of office systems, production print systems, network printers, and application solutions.
As part of this strategic acquisition, Konica Minolta Danka Imaging will operate as a wholly owned subsidiary of Konica Minolta, and will maintain its current offices in St. Petersburg, Florida. Ikuo (Indiana) Nakagawa, the current Executive Vice President of Corporate Planning at Konica Minolta Business Solutions U.S.A., will lead the new operation as Chairman and CEO. The current president of Danka Office Imaging, Bill Troxil will remain with the organization as President and COO, and will report directly to Mr. Nakagawa.
"Konica Minolta's acquisition of Danka Office Imaging Company influences and alters the competitive landscape, putting us in a position of significant strength in the highly strategic color and production print markets," said Jun Haraguchi, President and CEO, Konica Minolta Business Solutions U.S.A., Inc. "Konica Minolta Danka Imaging allows us to fulfill a key piece of our overarching growth strategy with our independent dealers and branch network, and we believe the combined strength of the new organization will be beneficial to all of our customers."
"While Konica Minolta benefits from Danka's strength in technical service and its customer base, Danka benefits from Konica Minolta's experience integrating companies and access to strong product technology. This deal is also very timely for Konica Minolta given the industry's direction to build or acquire direct customer channels", said Angèle Boyd, GVP/GM, Imaging/Output Solutions & SMB Markets.
On April 8, 2008, Konica Minolta announced a definitive agreement to acquire Danka Office Imaging with a goal of accelerating the growth of its enterprise customer base and the increase of distribution market share in the United States.
About Konica Minolta
Konica Minolta Business Solutions U.S.A., Inc. is a leader in advanced imaging and networking technologies for the desktop to the print shop. In 2008, Konica Minolta was recognized as the #1 Brand for Customer Loyalty in the MFP Office Copier Market by Brand Keys. For more information, please visit www.kmbs.konicaminolta.us.
Konica Minolta Corporate Contact
Konica Minolta Business Solutions U.S.A., Inc.
# # # # #
Konica Minolta is a trademark of Konica Minolta Holdings, Inc. All other trademarks are the property of their respective owners.