VENLO, 17/09/05 - Printer and copier manufacturer OcÈ plans to acquire US counterpart Imagistics for 685 million dollars (560 million euros). Management of Imaginistics supports the bid, OcÈ announced Friday.

The Venlo company is offering 42 dollars a share in cash for Imagistics and expects to complete the takeover this year. The US authorities do still have to approve the acquisition. "The companies fit in strategically with one another excellently," said OcÈ CEO Rokus van Iperen. He sees an immediate benefit of 45 million dollars on an annual basis from 2009.

OcÈ will have access via Imagistics to many new clients in the American business world, according to Van Iperen. "The acquisition will lead to faster earnings and sales growth," he predicted. Thus, Imagistics, which posted 2004 net profit of 25 million dollars on sales of over 600 million, counts 4,000 large companies and government bodies among its clients.

OcÈ's market share in the US will increase to 5 percent after completion of the takeover, nearly double its present 3 percent share. Translated into sales, OcÈ will grow in the US from 1.2 billion to 1.8 billion dollars, about half of the company's total sales in 2004.

OcÈ has finally announced an acquisition after looking for years, commented an analyst from investment bank Stroeve. The company announced earlier this year that it had a war-chest of 500 to 700 million euros.?