Danka to make first acquisition in Continental Europe.ST. PETERSBURG, Fla.--(BUSINESS WIRE)--June 29, 1995--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) has agreed in principle to acquire Reprotechniek Group Benelux ("Reprotechniek"), which marks its entry into Continental Europe Continental Europe, also referred to as mainland Europe or simply the Continent, is the continent of Europe, explicitly excluding European islands and, at times, peninsulas. . Reprotechniek is the exclusive distributor of Toshiba photocopiers and fax machines in Holland and Belgium, and is expected to contribute annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenue of approximately $43 million. Dan Doyle, president and chief executive commented: "Reprotechniek marks our entry into Continental Europe, and compliments our current position as the leading dealer of Toshiba photocopiers in the U.K. The European copier market is comparable in size to the U.S. market and contains similar opportunities for expansion." Martin St. Quinton, chief executive of Danka Europe, stated: "Reprotechniek is very significant for us. It is our first move into Continental Europe after a string of acquisitions in the U.K. last year. We intend to use the management strength of Reprotechniek to expand our business in Europe." Danka Business Systems PLC, headquartered in St. Petersburg, is one of the largest and fastest growing independent suppliers of automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. office equipment and related services and supplies 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 the United Kingdom. Danka's ADSs are listed on the NASDAQ/NMS and its Ordinary shares are listed on the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. . CONTACT: Danka Business Systems PLC, St. Petersburg William T. Freeman, 813/576-6003 or Paul G. Dumond, 011-44171-603-1515 |
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