Xerox Agrees to Deal for ACS
NORWALK, CT—Xerox Corp. and Affiliated Computer Services (ACS) announced a definitive agreement for Xerox to acquire ACS in a cash and stock transaction valued at $63.11 per share, or $6.4 billion as of the closing price of Xerox stock on Sept. 25. ACS is a $6.5 billion company with revenue growth of 6 percent and new business signings of $1 billion in annual recurring revenue during its 2009 fiscal year.
Best Press Expanding Facility
ADDISON, TX—Best Press broke ground on a multimillion dollar expansion project that will see its building grow by 44,000 square feet to nearly 100,000. The addition—expected to be completed in the first quarter of 2010—will help accommodate a new fulfillment and distribution center, along with three recently purchased presses. The lineup includes a 10-color, 40˝ Komori Lithrone perfector; a six-color, 40˝ Komori Lithrone UV press; and two-color, 40˝ Heidelberg perfector.
Grandville Growing Building
GRAND RAPIDS, MI—Grandville Printing announced plans to expand its facility by 91,000 square feet in order to accommodate its Nexgen Retail Division, which produces on-demand variable data retail shelf advertising. In addition to meeting rooms, office space and fulfillment, the expansion will house its six HP Indigo presses that are used to produce weekly ad tags, shelf labels, shelf talkers and signage for retailers.
ECRM Mourns Founder's Loss
TEWKSBURY, MA—William Schreiber, ECRM founder and professor emeritus at MIT, died Sept. 21 at his home at the age of 84. Together with Melvin Fennell from The Associated Press and fellow MIT professors Samuel Mason and Donald Troxel, Mr. Schreiber developed one of the first commercially successful optical character recognition (OCR) machines in 1969. In March of 1969, he founded Electronic Character Recognition Machinery (ECRM).
C2 Repro Nets Universal
COSTA MESA, CA—C2 Reprographics has struck a deal to obtain San Diego-based Universal Reprographics, its Color World and onsite subsidiaries. C2 Reprographics is the largest independent reprographics firm in Southern California, primarily serving the architecture, engineering and construction industries, and the general business community.