Ricoh Acquiring IBM Printing Systems Division
ARMONK, NY—Ricoh and IBM are teaming up to create a joint venture company, InfoPrint Solutions, which Ricoh will gain full ownership of during a three-year period. IBM will receive $725 million in cash upon closing of the deal.
Ricoh will initially hold 51 percent of the joint company—which is based on IBM’s Printing Systems Division—before buying out IBM’s share over the next three years. The total purchase price will be determined upon the profits and losses of the joint company.
InfoPrint Solutions will be based at the current IBM Printing Systems Division headquarters in Boulder, CO.