Ricoh Completes Acquistion of IKON Office Solutions
Ricoh Americas Corporation Press Release
Ricoh Company, Ltd's president & CEO: Shiro Kondo today announced that it has completed its previously announced $1.6 billion acquisition of IKON Office Solutions, Inc. through Ricoh’s wholly owned U.S. distribution subsidiary, Ricoh Americas Corporation. As a result of the merger, IKON is now a wholly owned subsidiary of Ricoh Americas Corporation.
The transaction was approved by IKON shareholders at a special meeting held today. Pursuant to the merger agreement, former shareholders of IKON will receive $17.25 in cash for each share of IKON common stock. IKON stock will cease to trade on the New York Stock Exchange as of market open November 3, 2008.
Through this acquisition, Ricoh will strengthen its business infrastructure in the U.S., Canada and Europe by combining with IKON’s strong sales and service network. RICOH also will gain access to IKON’s extensive customer base, which includes major and national account customers, as well as government and public sector customers. This acquisition represents another significant step in Ricoh’s integrated global growth strategy.
Information about Ricoh's complete range of products and services can be accessed on the World Wide Web at http://www.ricoh-usa.com.
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