Global Imaging Systems Acquires Astro Business Technologies, Inc.
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California Firm Joins Lucas Business Systems to Form Global's 21st Core Company
TAMPA, Fla., Jan. 31 /- Global Imaging Systems, Inc. (NASDAQ:GISX) announced today that it has acquired Livermore, CA-based Astro Business Technologies, Inc., which is being merged with the company's Lucas Business Systems to form Global's 21st core company.
The new acquisition provides complete office technology solutions through sales and service of copiers, fax and multifunction products under the Konica Minolta, Muratec and Panasonic brands. With annual revenues of approximately $11 million, Astro has served middle market and mid-major customers throughout the San Francisco Bay area.
Global Imaging President and Chief Operating Officer Michael Shea said, "This acquisition is a great fit for Global. Astro and Lucas together are well positioned to be a leading distributor of office technology in the San Francisco market and throughout the Central Valley of California. The people at Astro are top quality professionals, and Paul Thompson and his management team have built a growing and profitable business. This strategic acquisition of a key independent dealer not only strengthens our growing market position in California, but also continues our disciplined, ongoing effort to fill out our dealer network in the top 250 markets in North America."
Tim Keating, President of Lucas Business Systems, said, "Astro Business Technologies has earned a reputation as one of California's top providers of office technology. Paul and I are already working together to expand our customer base and give us more comprehensive coverage of the Bay Area and the Central Valley. We complement each other not only with geographically contiguous markets, but also with similar operating strategy, customer focus and product offerings."
Paul Thompson, President of Astro Business Technologies, said, "We are excited about joining the Global team and working side-by-side with Tim and the entire Lucas organization. Global's emphasis on customer service and its benchmark operating model are well known in the industry. Our management and employees look forward to utilizing Global's strengths and applying the company's best practices to take us to the next level."
About Global Imaging Systems
Global Imaging Systems offers thousands of middle-market customers a one- stop shop for office technology solutions in 32 states and the District of Columbia. The company provides a broad line of office technology solutions including the sale and service of automated office equipment, network integration services, and electronic presentation systems. The company is also a disciplined, profitable consolidator in the highly fragmented office technology solutions industry.
Source: Global Imaging Systems, Inc.
CONTACT:
Michael Shea,
President and COO,
+1-813-960-5508,
or
Tom Metzler,
President, West Coast Operations,
+1-856-727-8100,
both of Global Imaging Systems, Inc.;
