Global Imaging Systems Acquires TML Enterprises, Inc.
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TAMPA, Fla., March 23 : Global Imaging Systems, Inc. (NASDAQ:GISX) announced today that it has acquired TML Enterprises, Inc., headquartered in Manassas, VA, and serving the northern Virginia and western D.C. market. The new acquisition provides complete office technology solutions through sales and service of Konica Minolta and Sharp copiers, fax and multifunction products and HP printers. TML Enterprises, with annual revenues of approximately $10 million, will operate as a part of ESI, a Global Imaging core company serving middle market and mid-major customers throughout Virginia.
Global Imaging President and Chief Operating Officer Michael Shea said, "The people at TML are top quality professionals, and Mike Hoover and his partner Tom Lensis have built a growing and profitable business. This strategic acquisition of a key independent dealer not only strengthens our already strong market position in Virginia, but also continues our disciplined, ongoing effort to fill out our dealer network in the top 250 markets in North America."
Dan Cooper, president of ESI and senior vice president - sales for Global Imaging Systems, said, "TML has earned a reputation as one of Virginia's top providers of office technology. The acquisition expands our customer base and gives us more comprehensive coverage of Prince William County, which has a significant economic base and high growth. We complement each other not only with geographically contiguous markets, but also with similar operating strategy, customer focus and product offerings."
Mr. Hoover, who continues as president of TML, said, "We are excited about joining ESI and working with the entire Global team. Global's emphasis on customer service and its benchmark operating model are well known in the industry. Our management and employees look forward to sharing in Global's steady growth and, more importantly, sharing best practices in providing solutions to our customers."
About Electronic Systems (ESI)
Electronic Systems is the region's largest full-service integrator/office automation company providing total-solutions packages for its customers. The company offers information technology solutions, digital copiers and multifunction products (MFPs), printer service and supplies, and technology training. Founded in 1980, ESI has grown to more than 500 employees with offices in Virginia Beach, Norfolk, Newport News, Richmond, Lynchburg, Roanoke, Alexandria, Washington, D.C., and Raleigh, N.C.
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 of Global Imaging Systems, Inc., +1-813-960-5508; or Dan Cooper, President of Electronic Systems,
+1-757-497-8000; or Investor Relations Consultants, Inc.,
++1-727-781-5577 or
E-mail, gisx@mindspring.com
