Ricoh Company, Ltd. announced on Wednesday that it will acquire IKON Office Solutions through its
The merger, expected to be completed sometime in the fourth quarter of 2008, will partner two of the largest companies in their respective markets. RICOH is considered a “global leader in imaging solutions” and has been “rapidly growing printing and document areas.” IKON will help continue this growth as one of the “largest independent channels” in document management systems and services.
The estimated acquisition price is $1.617 billion based on an offer of $17.25 per share. Both companies saw over that in revenues last year. Ricoh pulled in $22 billion in revenue and IKON, a smaller but respectable, $4.2 billion.