Ricoh Canada Inc. Signs Agreement to Acquire Graycon Group Inc., a Leading IT Services Firm in Western Canada

Purchase Complements Ricoh's expanding Managed Services Portfolio, Adding Significant Skills and Expertise to the Company's Growing Suite of Offerings

TORONTO - Ricoh Canada Inc. today announced it has reached an agreement to acquire Graycon Group Inc. (Graycon) - a leading Information Technology (IT) consulting firm that specializes in the design, implementation, security, and support of all IT infrastructure, cloud and networking systems. The acquisition is the latest strategic investment by Ricoh to expand and deepen its managed services portfolio.

Graycon, headquartered in Calgary, Alberta, with operations in seven cities across Western Canada, has been providing IT infrastructure and networking expertise for the past 26 years. The company's deep experience in delivering best-in-class IT Services will help Ricoh continue to drive value to customers through expanded services offerings as well as support Ricoh's growth as a provider of managed IT Services.

"Bringing Graycon into the Ricoh family demonstrates our continuing efforts to deliver a robust Services portfolio to the Canadian marketplace - comprised of the very best IT Services minds in the business," said Glenn Laverty, President and CEO of Ricoh Canada Inc. "This strategic acquisition demonstrates our commitment to expanding our Services business - which already includes Professional Services, Business Information Services and Legal Services. But at the core, it's about continuing to deliver on our promise of making information work for our customers."

"Ricoh's Services mission and the values Graycon Group was built on are extraordinarily aligned," said Douglas Gray, Founder, President and Chief Executive Officer of Graycon. "I'm very excited for the future of this relationship, I believe what's coming will be epic. When you take Graycon's depth of experience in the SMB space and our strong relationships in Western Canada, and you combine that with Ricoh's national capacity, resources and its relentless commitment to an exceptional customer experience, you create something quite unique and compelling in the Canadian IT Services space."

Graycon Group, with existing offices in Calgary, Edmonton, Red Deer, Saskatoon, Kelowna, Kamloops and Vancouver, will continue to operate under its current name and under the leadership of the current management team. The transaction is expected to close within the next 30 days.

About Ricoh

Ricoh is a global technology company specializing in office imaging equipment, production print solutions, document management systems and IT services. Headquartered in Tokyo, Ricoh Group operates in about 200 countries and regions. In the financial year ending March 2015, Ricoh Group had worldwide sales of 2,231 billion yen (approx. 18.5 billion USD).

The majority of the company's revenue comes from products, solutions and services that improve the interaction between people and information. Ricoh also produces award-winning digital cameras and specialized industrial products. It is known for the quality of its technology, the exceptional standard of its customer service and sustainability initiatives.

Under its corporate tagline, imagine. change. Ricoh helps companies transform the way they work and harness the collective imagination of their employees.

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About Graycon Group

Founded in 1989 Graycon Group, based in Calgary, AB is an award winning Information Technology (IT) consulting firm that specializes in the design, implementation, security, and support of IT infrastructure, cloud and networking systems. Graycon assists clients in achieving their business goals by delivering business value focused IT Solutions.

Graycon's commitment is to help each and every client achieve and sustain BORING IT. Through BORING IT, clients experience predictability in costs and performance, reliability in systems and support and a stress free relationship with IT that frees clients to focus on their core business.

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SOURCE Ricoh Canada Inc.

CONTACT: Dan Newman, Ricoh Canada Inc., (905) 795-5788,; Amanda Fink, Graycon Group, (403) 539-8135,

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