Take a read of this, I mentioned in a blog a few months ago that I thought the next round of printer/mfp manufacaturers purchases would be to start buyting the largest MPS Vendors. It's happened, any comments?
SYDNEY, Australia, July 30, 2010 -- Fuji Xerox Australia Pty. Ltd., a sales company of Japan-based Fuji Xerox Co., Ltd. and market leader in document outsourcing services in Australia, has announced the acquisition of Upstream Print Solutions Pty. Ltd., Australia's largest independently-owned Managed Print Services (MPS) provider. The acquisition agreement was signed on July 30 and the transition date is August 1. The acquisition secures market leadership for Fuji Xerox Australia in the provision of MPS in the country.
Established in 1995, Upstream Print Solutions is an AU$100 million company with revenue growth of 15 percent (CAGR 04-10) with about 300 employees. It will operate as an autonomous subsidiary of Fuji Xerox Australia and maintain its core strengths of print device neutrality in its MPS integration and small- and medium-sized businesses (SMB) focus.
As Fuji Xerox Australia is a market leader in providing MPS mainly to large corporations, it expects to broaden its offerings in MPS with the acquisition of Upstream Print Solutions. Together with Upstream Print Solutions' revenue, Fuji Xerox Australia's revenue from service businesses including MPS will increase to more than 20 percent of its total revenue in FY2010 from 14 percent in FY2009.
"Upstream Print Solutions has a unique business model, which is printer-centric MPS," said Nick Kugenthiran, managing director of Fuji Xerox Australia. "We will maintain the value of Upstream Print Solutions customer base, culture, go-to-market model and their SMB market leadership position. Further, Upstream Print Solutions is a strong local brand that doesn't compete in our traditional large enterprise market. Together with them, Fuji Xerox Australia will be able to provide quality services regardless the size of businesses."
Neil Tilley, managing director of Upstream Print Solutions, said, "For Upstream customers, this acquisition means they will continue to get the same great service from the same great team but with the additional backing and support of a large and proven business partner in Fuji Xerox Australia."
Fuji Xerox Australia and Upstream Print Solutions have a shared commitment to sustainability, with both organizations advocating responsible communication choices. This is a dedication to building solutions that ensure the right information is delivered to the right person in the right format.
Currently, Fuji Xerox Australia is the largest operating company in the Fuji Xerox sales and services territories in the Asia-Pacific region including China (except Japan) and their MPS revenue is expected to grow. As a global market leader in document outsourcing services, Fuji Xerox anticipates to further accelerate its MPS business in the growing Australian market as well as to benefit from Upstream Print Solutions' experience addressing the SMB market.
[About Fuji Xerox Australia]
Established in 1960, Fuji Xerox Australia is a leader in integrated document services, offering technology solutions and business services to meet its customers' information management needs. With knowledge and capabilities to design and implement document services for a variety of customers including offices, print rooms, commercial printers and publishing environments, the company has expertise in document management, digitizing data, print, office supplies, software solutions and managed services. Its headquarters is located in Sydney, and has approximately 1750 employees throughout Australia.
[About Upstream Print Solutions]
Upstream Print Solutions is one of Australia's leading MPS providers, delivering flexible, cost effective and innovative solutions specific to individual customer requirements. It is device agnostic, offering the best technology for the specific need, regardless of vendor. This is combined with custom and innovative solutions that help businesses better manage information and work flows. Together, the technology and solutions provide a complete print offering that lowers cost, minimizes administration, reduces carbon footprint and enables businesses to print less. Upstream Print Solutions manages more than 3,500 customers, from small single site businesses to large multi-site businesses, across Australia.