Konica Minolta Business Solutions USA Inc., a unit of Tokyo-based Konica Minolta Holdings Inc., said Tuesday it has agreed to buy a subsidiary of Danka Business Systems PLC, in a deal valued at $240 million.
Konica Minolta said it will begin servicing network-ready multifunctional products (print, copy, fax, and scan all in one system), and network printers, in DOIC markets beginning in mid-2008.
In addition to continuing support for the entire Danka customer base with a complete range of products and service capabilities, said A.D. Frazier, Chairman and Chief Executive Officer of Danka.
Konica said the acquisition of Danka will significantly increase its U.S. distribution and expand its range of services.
Danka Office Imaging serves over 45,000 customers across the U.S. and generated about $450 million in revenue for the fiscal year ended March, 2007, Konica said in a statement.