OKI Data Corporation has announced that they and Seiko Instruments Inc. (SII) have signed an agreement whereby OKI will acquire the globally-deployed wide format printer business of Seiko I Infotech Inc. (SIIT), a subsidiary of Seiko Instruments Inc.
OKI Data Corporation and SII signed a stock purchase agreement for the acquisition of all SIIT shares held by SII. Furthermore, OKI Data Corporation’s overseas subsidiaries in Europe and the US each signed asset purchase agreements with SII’s European and US group companies, to acquire the wide format printer business and assets currently held by SII in Europe and the US. The parties will complete the business transfer on October 1, 2015, in keeping with the agreements. The transaction will not affect the various products and services currently provided by SIIT, including products and services related to wide format printers.
Through this acquisition, OKI Data Corporation will not only acquire a portfolio of wide format inkjet printers for signs and LED graphic plotters held by SIIT, but also the technologies and development resources together with the relevant sales channels. OKI Data Corporation will strive to enhance its business activities in the professional printer market through offering one-stop printing solutions particularly targeted at the printing, distribution, and retail industry sectors. By integrating technologies and resources between the parties through the acquisition, OKI Data Corporation will enhance its product portfolio and product development capabilities.
OKI Data Corporation positions the high-value-added printer business as a major growth area and an important target business segment particularly focusing on the professional printer market. OKI Data Corporation expects continued growth in demand by 6% CAGR for wide format printing within the professional printer market, driven by accelerated on-demand printing needs particularly in the retail and distribution industries.