DAYTON, Ohio, April 23 -- Standard Register (NYSE:SR), a leading provider of document and print management services, today announced that it has sold its digital writing business unit to Exped LLC, a subsidiary of DoubleDay Acquisitions II, a Dayton-based investment firm. Terms of the deal will be disclosed in the company's forthcoming Form 8-K.
"This emerging technology has made great strides. DoubleDay will be an outstanding owner and is in a position to take this business to the next level," said Dennis Rediker, Standard Register's president and chief executive officer. "For us, ultimately, it is about priorities and we will direct our investment toward our core document services strategy."
"We are excited about our acquisition of the ExpeData business," said Brian Kohr, chief financial officer of DoubleDay Acquisitions II. "Digital writing is a technology in its early stages of adoption. We believe ExpeData has the most advanced digital writing solution available in the world and a very strong network of partners to deliver it."
ExpeData will remain headquartered in the Dayton, Ohio area.
About Standard Register
Standard Register is a premier document services provider, trusted by companies to manage the critical documents they need to thrive in today's competitive climate. Relying on nearly a century of industry expertise, Lean Six Sigma methodologies and leading technologies, the company helps organizations increase efficiency, reduce costs, mitigate risk, grow revenue and meet the challenges of a changing business landscape. It offers document and label solutions, technology, consulting and print supply chain services to help clients manage documents throughout their enterprises. More information is available at http://www.standardregister.com/
ExpeData has the most advanced digital writing solution available in the market. Through its network of channel partners, print partners and integrators, ExpeData's digital writing solution is available in both a hosted and enterprise model. It is used by thousands of mobile and remote workers in healthcare, banking, insurance, and in trades such as plumbing to capture and interpret data, immediately and remotely. This data is then sent back wirelessly to the customers' network for automatic and secure interpretation. More information on the solution is available at http://www.expedata.net/
About DoubleDay Acquisitions II
DoubleDay Acquisitions II is a privately-held investment management company based in Dayton, Ohio.
Source: Standard Register
Robert J. Cestelli,