Welcome to The Cannata Report’s Manic Monday, our rapid recap of the previous week’s office technology industry news. However, instead of presenting last week’s news, here’s our take on the Top 10 Office Technology News stories of 2024.
- Xerox to acquire Lexmark. Any doubt about what story would be #1? Of course not. This news, announced on December 23, will expand Xerox’s footprint in the Asia-Pacific region while providing it with a formidable line of A4 devices. For Lexmark, this should alleviate much of the negative publicity associated with Ninestar Corporation while also strengthening its R&D and manufacturing capabilities. As Lexmark President & CEO observed in a Lexmark blog, “With this new organization, we will be a global print titan, serving over 200,000 customers in 170 countries around the world. We will be a top-five player in all print markets, strengthening our leadership and enabling us to better serve customers.”
- Epson acquires Fiery. Announced on September 21, 2024, this was another surprising acquisition. The private equity firm Siris Capital Group, which owns EFI and Fiery, has done what private equity firms are designed to do–turn a profit for their investors. No doubt, the investors in Siris Capital Group are the winners; however, if Epson can maintain the Fiery organization’s and brand’s stability, that will be a huge plus for Epson. The acquisition was finalized on December 6, 2024.
- Gamut Capital acquires DEX Imaging from Staples. Somewhat constrained from doing what it does best under Staples’ ownership, DEX Imaging is back on track under the ownership of Gamut Capital. The deal announced on April 26, 2024, will enable DEX Imaging to expand its footprint through more acquisitions and build an IT business, something it had not been keen on doing in the past.
- Konica Minolta and FUJIFILM Business Innovation business alliance – In August, Konica Minolta, Inc. signed a memorandum of understanding with FUJIFILM Business Innovation to begin a feasibility study for a strategic alliance in the multifunction printer, office printer, and production printer segments. The alliance will reportedly strengthen the two company’s business foundation, including the development of a robust supply system for their products. The companies are also seeking to expand other business alliances and continue discussions. The alliance, which was supposed to go into effect in September 2024, has been pushed to an unspecified later date.
- The 20 Acquires Collabrance – MSP growth platform The 20 announced its acquisition of Collabrance, LLC., a master managed IT services provider based in Cedar Rapids, Iowa, on August 2, 2024. This was the Texas-based company’s ninth acquisition of the year and the 35th since entering the M&A arena in late 2022. Collabrance will reportedly retain its own brand, underscoring the company’s strong market presence and strategic value. Moreover, The 20 has retained all Collabrance employees.
- Canon Solutions America to merge with Canon U.S.A. The merger was announced in an employee memo and covered by Long Island Business News on August 2. According to the article, Canon U.S.A. is consolidating its sales divisions and merging the two organizations to cut expenses. The merger went into effect on January 1, 2025.
- Macquarie Equipment Capital leaving office technology market. Dealers received a letter on Friday, August 9, stating that the finance company would cease funding for any new transactions in the office technology market, effective the end of the business day, September 6, 2024. Since then, some key MacQuarie Equipment Capital employees have joined a new company, Verdant.
- Konica Minolta Announces Divestiture of Its ERP Business. The company began offering the service in 2018 after it acquired MWA Intelligence, Inc., an SAP Business One partner that had developed an ERP platform for the imaging channel. Effective July 1, Konica Minolta U.S. ERP customers were transitioned to Avaniko Technologies (Avaniko), an SAP Business One Gold Partner that focuses on the digital transformation of small and mid-size businesses. “At this junction, we believe Avaniko is better staffed and suited to continue the ongoing development and support for the Forza platform,” said Konica Minolta President & CEO Sam Errigo.
- Katun Launches Line of A3 MFPs. We’ve said it before and we’ll say it again: do office technology dealers need another provider of A3 MFPs? The prevailing wisdom is no way. However, the executive team at Katun will disagree, and the company will not only bring these products to U.S. dealers but also offer them in Europe. Time, as it often does, will tell if expanding its offering into Katun-branded A3 MFPs was a savvy move.
- Novatech Acquired by Perpetual Capital Partners. Another big dealer is acquired by private equity on September 4, 2024. It’s a trend that we expect to continue in 2025.
