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DANKA ACQUIRES $28 MILLION DEALER IN CHICAGO

 ST. PETERSBURG, Fla., Dec. 30 /PRNewswire/ -- Danka Business Systems PLC (NASDAQ: DANKY) announced the acquisition of American Office Equipment Company, Inc. & its subsidiaries ("AOE"), a $28 million copier dealer based in Chicago.
 AOE, an authorized Sharp, Ricoh and MITA dealer operates 11 branches throughout the Chicago metropolitan area and northern Indiana. For its most recent fiscal year, AOE reported $28 million in revenues and $1 million of operating income. Danka paid $8.3 million for all of the outstanding stock of AOE, and agreed to pay additional contingent consideration of up to $1 million based on certain future earnings from the AOE operations.
 Daniel M. Doyle, Danka's chief executive officer, commented, "This acquisition marks Danka's entry into the copier market in the Chicago metropolitan area and will serve as a new base of operations in the Midwest portion of the United States. AOE has a strong management team which will support future growth in this region."
 Danka Business Systems, PLC, headquartered in St. Petersburg, is one of the largest independent distributors of automated office equipment and related services and supplies in the United States. Danka's ADS's are listed on the NASDAQ/NMS and its ordinary shares are listed on the London Stock Exchange.
 -0- 12/30/93
 /CONTACT: William T. Freeman, 813-576-6003, or Paul G. Dumond, 011-44-71-935-4650, both of Danka Business Systems/
 (DANKY)


CO: Danka Business Systems; American Office Equipment Company, Inc. ST: Florida IN: SU: TNM

RK-CM -- FL005 -- 8074 12/30/93 13:32 EST
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Publication:PR Newswire
Date:Dec 30, 1993
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