"Despite record-setting sales of $125 million last year, ComDoc agrees to acquisitionIf GIS had their own P&L or whatever. It might help Wall Street understand where organic growth is going to come from. E-paper? anyone. I'm thinking this channel could sell lots and lots of e-paper, if it works as advertised.
By Paula Schleis"
Published on Saturday, Jan 31, 2009
Xerox is counting on a venerable office equipment supplier in Green to help it reach some 14,000 new customers in Ohio and beyond.
ComDoc, an employee-owned company founded in 1955 that has grown to more than 600 employees in four states, is expected to be acquired by the end of February.
When the ink dries, ComDoc will become part of Global Imaging Systems (GIS), which was purchased by Xerox in 2007. GIS, a wholly owned subsidiary, operates small and mid-sized regional businesses that sell and service office technology, including printers, copiers, scanners and fax machines.
ComDoc Chief Executive Officer Riley Lochridge — who was named the Sales and Marketing Executives International 2007 Executive of the Year — said the decision to be acquired was not made from a position of weakness.
ComDoc had a record-setting $125 million in sales last year.
''An offer was made that we think was good for our employees and our shareholders, . . . and it will be good for our customers,'' Lochridge said.
And in a '''rapidly consolidating marketplace,'' he said, joining forces will make the company even stronger and more competitive.
GIS has made a half-dozen
acquisitions since being purchased by Xerox, according to Xerox spokesman Carl Langsenkamp.
Now if we can figure out a really good incentive plan that gets these folks to refer work back to our production partners or to refer prospects to our production partners, that would be good.
The thing is that, except for new installs, the printers who will get it, already got it. What they need is work and prospects. Not education.