Monday September 27, 8:42 am ET
CHICAGO, Sept. 27 /PRNewswire/ -- Global Imaging Systems (Nasdaq: GISX - News) announced today that it has acquired Chicago-based Image Manufacturing, Inc., a print management company and reseller of Hewlett Packard printers. Image Manufacturing has annual revenues of approximately $5.5 million.
Global Imaging Chairman and CEO Tom Johnson said, "The acquired operation serves the Chicago market, and it will operate as a satellite of Chicago Office Technology Group (COTG), a Global core company. This move continues our steady expansion of COTG and fits well with our company-wide effort to service each of our customer's in-office print requirements."
COTG President Frank Gaspari said, "After a strong performance last year when we won the chairman's trophy, Global's top award, we are excited about expanding our operations with strong print management offerings. Image Manufacturing has been an early leader in this rapidly evolving segment of our market."
Steve Riley of Image Manufacturing, said, "We are proud to join COTG with its market-leading performance and become part of Global Imaging Systems. We share Global's customer-centric operating philosophy and its strategy of focusing on customer productivity improvement. That's what our print management services are all about."
Global Imaging Systems offers thousands of middle-market customers a one- stop shop for office technology solutions from 174 locations in 30 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 relating to Global's long-term growth. These statements are based on numerous assumptions and are subject to uncertainties and risks, which could cause Global's results to differ materially. Most of these risks are discussed in more detail under the caption "Risk Factors" in Global's annual report on Form 10-K for the year ended March 31, 2004.