Océ expands with Imagistics purchase

Imagistics International is a direct sales and service organisation that provides document solutions, its portfolio spanning both printers and the network facilities used to facilitate document production. The acquisition means that these services will be combined with Océ's existing range of printing systems.

Océ will acquire all outstanding shares in Imagistics for a price of $54.55 per share for a total of approximately $889 million, with the transaction already receiving the stamp of approval by the board of directors of both companies.

Océ has indicated that it intends use the deal to help it expand its presence in the US corporate printing market, as well as offer its own document management services to Imagistics' existing customers.

Rokus van Iperen, chairman of the board at Océ, claims the purchase accomplishes the company's goal of strengthening its presence in the US market. “As a result of this acquisition we will be even better positioned to offer a complete range of value added solutions and world class products and services to our customers,” he say.

Marc Breslawsky, CEO of Imagistics, claims that both companies under the same umbrella will make for a powerful combination. “Our customers will have comprehensive product coverage across all segments, all from one company, across the world,” he says. “We expect that Océ and Imagistics will become a major force in the US office market, with superior growth prospects globally.”