*NEWS*GENICOM & TALLY JOIN FORCES !

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*NEWS*GENICOM & TALLY JOIN FORCES !

 user 2003-08-11 at 3:19:00 pm Views: 218
  • #3701
    New Printer Company TallyGenicom Launched
    Former Rivals Genicom and Tally Join Forces

    Genicom LP and Tally AG announced last week that the business printer and consumables companies have agreed to combine operations and create a new company, TallyGenicom. The newly integrated firm expects annualized revenue to exceed $200 million this year, making TallyGenicom one of the largest companies in the world focused exclusively on providing printers, consumables, printer parts and service. Arthur D. Gallo, CEO of Genicom, will be Chief

    Executive Officer of the company, and Tally CEO Gebhard Morent will serve as Chief Operating Officer. “This venture builds off the financial strength of two successful organizations to create a global printer company of unprecedented potential – the only printer company in the world today that can offer business and industrial users a full range of impact and laser printers,” said Gallo. “Our core strength will remain what it’s always been – providing and servicing business-critical printers that our customers know they can count on. Looking forward, we will continue to build on that strength with the goal of becoming a world leader in innovative color printer solutions for business. That is our customers’ fastest growing printer need and we can now offer them a wider assortment of color solutions than ever before.” TallyGenicom will continue to serve existing customers under the same pricing and contract terms already in place, according to Morent. “From the point of view of our customers around the world, nothing really changes,” added Morent. “Our commitment to great products and unbeatable customer service will be the same as ever. Joining forces as TallyGenicom simply makes us a stronger supplier going forward, allowing us to bring exciting new products and services to market faster than ever before.” TallyGenicom printers are designed and manufactured to perform critical, business-specific printing tasks in industries such as healthcare, transportation, manufacturing, warehousing and retail. The printers are used in these industry applications because of their customized design, rugged construction, durability and proven reliability. Users of TallyGenicom printers include some of the largest corporations in the world, including Wal-Mart, American Airlines, SBC Communications, Daimler Chrysler, Blockbuster and Volkswagen. TallyGenicom Worldwide Headquarters will be in the United States in Chantilly, VA near Washington, DC, and European headquarters will be in Ulm, Germany. Elsewhere in the Americas, TallyGenicom maintains facilities in Kent, WA; Waynesboro, VA; McAllen, TX; and Reynosa, Mexico. In Europe the firm also has operations in London, Paris, Vienna and Milan. Asian operations are located in Singapore and Jiangmen, China. The company will do business as TallyGenicom (R) in the Americas and as Tally(R) in Europe, Africa, Asia and the South Pacific. Arsenal Capital Partners, the current majority owner of Genicom, provided equity capital for the transaction and CapitalSource Finance LLC provided the senior debt financing. Arsenal is a New York-based private equity firm that makes control investments in manufacturing and business service industries.