Though the company was originally formed with the coupling of IBM's Printing Systems Division with Ricoh's hardware solutions has been servicing customers since January, the union is now official with the launch of InfoPrint Solutions Company.In a move intended to strengthen their position in the document management market, Ricoh has closed an agreement that will give them 51 percent ownership of a previously joint venture with IBM's Printing Systems Division.
Hardly content with a mere partnership, Ricoh will acquire the remaining 49 percent of the company over the next three years with the ultimate goal of making InfoPrint Solutions a wholly-owned subsidiary. Not a bad idea, considering the benefits they'll be reaping: People Any good manager will tell you a company is only as good as its people. By consummating this relationship, Ricoh acquires over 1,200 employees experienced in providing printing solutions on a global scale. Furthermore, there is also the option of adding another 1,000 IBM printer maintenance specialists after the conclusion of a one year service agreement. Places Along with a built-in management and implementation staff, Ricoh will start from day one with operations in the following locations: Argentina, Australia, Brazil, Canada, China, France, Germany, Hong Kong, Italy, Japan, Mexico, Peru, Singapore, Spain, Switzerland, Taiwan, the UK and the U.S. Following its aggressive acquisition plans, Ricoh will expand its operations in the third quarter of 2007. Things Along with beefed-up staff and operating locations, Ricoh inherits the following assets, necessary to maintaining a growing business:
* Experience: The company will be able to leverage 40 years of printing industry experience and over 20 years of joint innovation and development between itself and IBM.
* Revenue: IBM's Printing Systems Division did approximately US$1 billion in revenue in 2006, a nice little war chest to say the least.
* Access to IBM's worldwide distribution and sales network: Although the formerly joint venture will eventually be "all Ricoh, all the time," Ricoh will continue to leverage IBM's global experience in selling and implementing printing solutions for a wide range of enterprises.
Here is what the excited new CEO of InfoPrint Solutions, Tony Romero, had to say about the agreement:
"Our plans for the joint venture include greater investment in research and development, enhancing our professional services capabilities, and increasing the size of our sales and support organization. Our intense focus on strategic output management means our current and future customers will benefit from a new level of products, services, and solutions built to address their business needs."