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."
"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. Together, we will drive the next generation of innovation in output solutions," said Tony Romero, CEO and President, InfoPrint Solutions Company. "With this launch, we have created a billion-dollar enterprise with the backing of two undisputed industry leaders, IBM and Ricoh.
IBM will provide maintenance services to InfoPrint Solutions Company for one year under a services agreement, after which more than 1,000 IBM printer maintenance specialists may join the new company, subject to local business conditions and completion of local information and consultation processes. The InfoPrint product brand and IBM's extensive printer development capabilities are also part of the joint venture. IBM client teams, business partners and dealers will continue to offer InfoPrint printing and output solutions, and InfoPrint Solutions Company will be IBM's preferred global print solutions provider. The joint venture, based on IBM's printing operations which generated approximately $1 billion of revenue in 2006, will continue to benefit from access to IBM's powerful worldwide distribution and sales network. InfoPrint Solutions Company has operations in Argentina, Australia, Brazil, Canada, China, France, Germany, Hong Kong, Italy, Japan, Mexico, Peru, Singapore, Spain, Switzerland, Taiwan, the UK and the U.S., and has plans to expand to other countries in the third quarter of this year, subject to the completion of local information and consultation processes. With the closing of the agreement, Ricoh now owns 51 percent of the joint venture and will progressively acquire the remaining 49 percent over the next three years as the joint venture becomes a fully owned subsidiary.
The company was formerly IBM's Printing Systems Division. JInfoPrint Solutions Company (IPS), the joint venture printing company announced earlier this year by IBM (NYSE: IBM) and Ricoh, has begun operations with 1,200 employees around the world. Billion-Dollar Joint Venture Poised for Growth With Investments in R&D and Professional Servicesīoulder, Colo.
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