Public CompanyCanon to acquire Oce for euro 730 mn
Japanese digital camera maker Canon today said it plans to acquire Netherlands-based copier and printer maker Oce for euro 730 million in an all cash deal, aiming to create a global leader in printing industry.
- Tech heart sets his mind buzzing - Canon eyes 10% share in security surveillance camera mkt - Nikon to go "aggressive" on brand visibility - Canon India expects to clock 20 per cent growth - Canon revenue up in Indian operations - "Printer mkt declined 13% in H1"
Canon and Oce in a joint statement said that they have reached conditional agreement to combine their printing activities through a fully self-funded, public cash offer by Canon for all the shares of Oce.
Under the terms, Cannon would be offering euro 8.60 per share to every shareholder of Oce, thereby valuing the Dutch firm at euro 730 million. The offer represents a 70 per cent premium over last Friday"s closing share price of Oce.
Canon has manufacturing and marketing subsidiaries in Japan, the US, Europe, Asia and Oceania and a global R&D network with companies based in the US, Europe, Asia and Australia. While Oce is active in over 90 countries and employs some 22,000 people worldwide.
The aim to combine the printing activities of the companies are to create the overall number one presence in the printing industry, building on an enhanced scale and a combined history of innovation and excellent client servicing.
In addition, the combination would capitalise on an excellent complementary fit in product mix, channel mix, Research & Development (R&D) and business lines resulting in an outstanding client offer spanning the entire printing industry.