Ricoh Snaps Up Ikon For US$1.62bn

The Japanese overseas buying spree continues this week as electronics firm Ricoh acquires US office equipment distributor Ikon Office Solutions for US$1.62bn. Ricoh is one of the world's leading providers of digital office solutions, competing with firms like Zerox, Canon and Konica Minolta. It has said it will pay US$17.25 cash for each share in Ikon, the world's largest independent channel for document management systems and services with 2007 revenues of US$4.2bn. For Ikon this represents a premium of 11% to the close on August 26 of US$15.56.

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