Xerox Buys Impika, Terms Not Disclosed
Xerox (NYSE: XRX) has acquired Impika, a leader in the design, production and sale of production inkjet printing solutions used for industrial, commercial, security, label and package printing.
Impika offers a portfolio of aqueous (water-based) inkjet presses based on proprietary technology. Impika product lines include iPrint™, a range of continuous feed production printers that print at speeds as fast as 375 meters per minute, and iPress™, a range of graphic communications digital presses with resolutions of up to 2400 x 1200 dpi. Impika, based in Aubagne, France, sells its products to print providers through its direct sales force and through a global network of channel partners, including Xerox, which has been reselling the Impika brand in Europe since 2011, and recently expanded to several developing markets.
In addition to Xerox's existing xerographic production presses, the company developed and markets the world's only high-speed waterless inkjet presses, the Xerox CiPress™ Production Inkjet Systems. The production inkjet market is projected to grow 21 percent annually through 2015, according to market research firm I.T. Strategies. By adding Impika technology to its offerings, Xerox will now go to market with the industry's broadest range of digital presses, strengthening its leadership in digital color production printing.
“A hallmark of Xerox's long-term success is our focus on innovation, and Impika has demonstrated an innovative approach to advanced production inkjet printing that complements Xerox's technology,” said Jeff Jacobson, president of Xerox's Graphic Communications Operations. “We have established leadership in serving the graphic communication marketplace. With Impika as part of our broader set of solutions, we're bolstering our brand strength and better serving the market with digital products, solutions and resources to meet the needs of print providers so they can satisfy their clients and grow their businesses.”
“We've succeeded in developing one of the industry's most formidable product lines,” said Paul Morgavi, president and chief executive officer, Impika. “To continue our growth, we need to be part of a leadership organization that has broad global distribution and service, a strong brand, and the same customer-centric culture that we champion. Xerox is a logical fit for our growing business and for our customers, who will benefit from Xerox's shared focus on innovation to advance digital color printing.”
The 55 people of Impika, led by Morgavi, will now report to Jacobson.
Terms of the transaction were not disclosed.
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