Global Imaging Systems Makes 60th Acquisition
July 28, 2003 09:59:00 AM ET
TAMPA, Fla., July 28 /PRNewswire/ -- Global Imaging Systems, Inc. GISX announced today that it has acquired the Dallas, TX, branch operation of Copy Products, Inc., bringing to 60 the number of businesses Global has acquired during the nine years since it was founded.
The Dallas branch of Copy Products is a dealer in Konica copiers, Panasonic fax products and Kyocera printers. Global Imaging President and CEO Tom Johnson said, "This business is a leading digital copier dealer serving the Dallas-Fort Worth market and will operate as a satellite of Dahill Industries, our core company based in San Antonio, TX." He said the operation currently has annual revenues of approximately $3,400,000.
Mike Mueller, Dahill president, stated, "The addition of this Copy Products branch is part of our strategic plan to continue to expand our market area and specifically our copier customer base. This acquisition not only adds to our market strength, but also gives us a second entry into the large Dallas metropolitan area."
On May 29, the company announced its initial entry into the Dallas office technology market with the acquisition of Alternative Office Systems. Mr. Mueller added that both Alternative and the Copy Products branch will be fully integrated into the Dahill and Global families over the next 90 days. He said, "Together, we believe we can further penetrate this important metropolitan market."
Global Imaging Systems offers thousands of middle-market customers a one- stop shop for office technology solutions from 139 locations in 28 states plus the District of Columbia. The company provides a broad line of office technology solutions, including the sale and service of automated office equipment, network integration services and electronic presentation systems. The company is also a disciplined, profitable consolidator in the highly fragmented office technology solutions industry.
This news release contains forward-looking statements and statements based on forward-looking information including statements about expansion of our customer base, cross-selling opportunities, future acquisitions, product and service offerings. These statements are based on numerous assumptions and are subject to uncertainties and risks. Actual results could differ materially. Factors that might cause Global's results to differ materially include market conditions, liquidity needs, and other factors which are discussed in more detail under the caption "Risk Factors" in Global's annual report on Form 10-K/A for the fiscal year ended March 31, 2002, and in other filings with the Securities and Exchange Commission.
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