Ricoh to acquire Ikon Office Solutions

New York Stock Exchange-listed IKON Office Solutions has signed a definitive agreement with Japanese office automation products giant Ricoh Company Ltd to be acquired by the latter for approximately $1.6 billion in cash. This will result in significant syngeries, bringing together IKON’s sales and services capabilities with Ricoh’s engineering and manufacturing expertise. Following the acquisition, IKON will become a subsidiary of Ricoh.

The acquisition will help Ricoh, one of the world’s leading manufacturers of high quality multifunction products, printers, fax machines and related supplies, to increase its global presence significantly.

“IKON has terrific strength in areas that complement Ricoh’s growth strategy. IKON has advanced Professional Services capabilities with a long list of satisfied large customers. IKON is respected as well for its production print sales and service expertise," said Shiro Kondo, President and CEO of Ricoh Company

Ricoh is a leading provider of digital office solutions, such as MFPs, printers, fax machines, semiconductor related products and digital cameras. IKON is one of the world’s largest independent channels for document management systems and services. The company integrates best-in-class copiers, printers and MFP technologies from leading manufacturers and document management software and systems, to deliver tailored, high-value solutions.