Xerox Buys Impika, Terms Not Disclosed

Xerox (NYSE: XRX) has acquired Impika, a leader in the design, production andsale 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 onproprietary technology. Impika product lines include iPrint™, a range ofcontinuous feed production printers that print at speeds as fast as 375 metersper minute, and iPress™, a range of graphic communications digital presseswith resolutions of up to 2400 x 1200 dpi. Impika, based in Aubagne, France,sells its products to print providers through its direct sales force andthrough a global network of channel partners, including Xerox, which has beenreselling the Impika brand in Europe since 2011, and recently expanded toseveral developing markets.In addition to Xerox's existing xerographic production presses, the companydeveloped and markets the world's only high-speed waterless inkjet presses,the Xerox CiPress™ Production Inkjet Systems. The production inkjet market isprojected to grow 21 percent annually through 2015, according to marketresearch firm I.T. Strategies. By adding Impika technology to its offerings,Xerox will now go to market with the industry's broadest range of digitalpresses, strengthening its leadership in digital color production printing.“A hallmark of Xerox's long-term success is our focus on innovation, andImpika has demonstrated an innovative approach to advanced production inkjetprinting that complements Xerox's technology,” said Jeff Jacobson, presidentof Xerox's Graphic Communications Operations. “We have established leadershipin serving the graphic communication marketplace. With Impika as part of ourbroader set of solutions, we're bolstering our brand strength and betterserving the market with digital products, solutions and resources to meet theneeds of print providers so they can satisfy their clients and grow theirbusinesses.”“We've succeeded in developing one of the industry's most formidable productlines,” said Paul Morgavi, president and chief executive officer, Impika. “Tocontinue our growth, we need to be part of a leadership organization that hasbroad global distribution and service, a strong brand, and the samecustomer-centric culture that we champion. Xerox is a logical fit for ourgrowing business and for our customers, who will benefit from Xerox's sharedfocus 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.