Danka makes first move into Australasia.ST. PETERSBURG, Fla.--(BUSINESS WIRE)--July 8, 1996--Danka Business Systems PLC (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :DANKY) is pleased to announce its first move into the Australasian photocopier photocopier Device for producing copies of text or graphic material by the use of light, heat, chemicals, or electrostatic charge. Most modern copiers use a method called xerography. and fax market with two significant acquisitions. The company acquired Tower Australia Pty Ltd PTY LTD Propriety Limited (company structure in Australia) . ("Tower") and Alcatel Datakey Pty ("Datakey") and their respective operating subsidiaries An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. . Tower, based in Sydney, Australia is the largest independent supplier of photocopiers and fax machines in Australia and New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. . Tower, which has current annual revenue of approximately $75 million, markets a full range of Toshiba products through direct operations located in Sydney, Brisbane, Melbourne and Auckland. Datakey, the largest Sharp distributor in Australia, is headquartered in Melbourne with offices in Adelaide, Brisbane, Sydney and Perth, and has current annual revenue of $24 million. Danka will pay approximately $30 million for these acquisitions, which will give the company combined annual revenue in these regions of approximately $99 million. Dan Doyle, chief executive of Danka Business Systems PLC commented: "The acquisitions of Tower and Datakey move Danka into a totally new sales territory which offers additional opportunities for growth. These acquisitions provide Danka with an estimated share of over 10% of the Australian market." Danka's Australasian operations will report through Martin St. Quinton, the chief executive of Danka Europe. St. Quinton stated: "Tower and Datakey bring strong management teams to the Danka group and provide an excellent base for further expansion in the region. John Parsons John Parsons could refer to:
Danka Business Systems PLC, headquartered in St. Petersburg, is one of the largest independent suppliers of photocopiers, facsimiles and other automated office equipment in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and Europe. CONTACT: Danka Business Systems PLC William T. Freeman, 813/576-6003 or Paul G. Dumond, 011-44171-603-1515 |
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