Increases Konica Minolta’s Enterprise Customers Base and Distribution Market Share in the United States
Ramsey, N.J. – April 8, 2008 – Konica Minolta Business Solutions U.S.A., Inc. (Konica Minolta – www.kmbs.konicaminolta.us), a leading provider of advanced imaging and networking technologies from the desktop to the print shop, today announced that the company has signed a definitive agreement with Danka Business Systems PLC (Danka; OTCBB: DANKY.PK; LSE:DNK.L), one of the largest independent suppliers of office imaging equipment, software, support, and related services and supplies in the United States, enabling Konica Minolta to acquire Danka Office Imaging Company (DOIC), a wholly-owned U.S. operating subsidiary of Danka.
DOIC serves over 45,000 customers across the United States. DOIC generated approximately $450 million in total revenue for the fiscal year ending March 31, 2007. The acquisition is expected to significantly increase Konica Minolta’s U.S. distribution to enterprise customers while expanding its range of services and support capabilities.
“Konica Minolta’s acquisition of DOIC will further enhance our leadership in the color and high volume production print markets while complementing our overall growth strategy with our independent dealers and branch network.” said Jun Haraguchi, President and CEO of Konica Minolta Business Solutions U.S.A., Inc. “We’re excited about the prospects that this strategic acquisition will create, and believe the combined strength of the new organization will be beneficial to our customers, the DOIC customer base and the DOIC employee family.”
Under the terms of the agreement, the total purchase price is expected to be approximately US $240 million. Konica Minolta will begin servicing network-ready multifunctional products (print, copy, fax, and scan all in one system), and network printers, in DOIC markets beginning in mid-2008.
The acquisition of DOIC is subject to customary regulatory and other closing conditions, in both the United States and the UK, including the approval of the transaction by Danka’s shareholders.
Upon the consummation of the transaction, DOIC will be a wholly owned subsidiary of Konica Minolta, will maintain its current offices in St. Petersburg, Florida and will operate to serve DOIC current distribution network.
About Konica Minolta Business Solutions U.S.A.
Konica Minolta Business Solutions U.S.A. Inc. (www.kmbs.konicaminolta.us), a leader in advanced imaging and networking technologies for the desktop to the print shop, brings together unparalleled advances in security, print quality and network integration via its award-winning line of bizhub(TM) multifunction products (MFPs); bizhub PRO(TM) production printing systems; magicolor® desktop color laser printers and all-in-ones; and pagepro(TM) monochrome desktop laser printers and all-in-ones. Konica Minolta also offers advanced software solutions, wide-format printers, microform digital imaging systems, and scanning systems for specialized applications.
Headquartered in Ramsey, NJ, Konica Minolta delivers expert professional services and client support through an extensive network of direct sales offices, authorized dealers, resellers and distribution partners in the United States, Canada, Mexico, Central America and South America.
About Danka Business Systems PLC
Danka delivers value to clients by using its expert technical and professional services to implement effective document information solutions. As one of the largest independent providers of enterprise imaging systems and services, Danka enables choice, convenience, and continuity. Danka’s vision is to empower customers to benefit fully from the convergence of image and document technologies in a connected environment and, in turn, strengthen its client relationships and expand its strategic value. For more information, visit www.danka.com .
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Forward-Looking Statements and Disclaimers
Certain statements contained in this press release, including statements related to Konica Minolta’s future business and financial performance, are forward-looking. Such statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties and assumptions that could cause actual results to differ materially from those reflected in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward looking statements, which reflect management’s analysis only as of the date they are made. Konica Minolta expressly disclaims any obligation to release publicly any updates to any forward-looking statements contained herein to reflect any changes in Konica Minolta’s expectation with regard thereto or any changes in events, conditions or circumstances on which any statement is based. “Konica Minolta” is a trademark of Konica Minolta Holdings, Inc.; “bizhub” is a trademark of Konica Minolta Business Technologies, Inc. “Danka” is a registered trademark of Danka. All other trademarks mentioned in this press release are the property of their respective owners.
Investor Relations – Contacts
Konica Minolta Corporate Contact
James Norberto
Konica Minolta Business Solutions U.S.A., Inc.
+1 201.825.4000
[email protected]
Konica Minolta Media Contact
Doreen Maciak
Lois Paul and Partners
+1 781.782.5832
[email protected]
