Canon To Buy European Printer Manufacturer
Japanese printer and ink cartridge manufacturer Canon has made an offer to buy Dutch company Oce, the largest printer manufacturer in Europe.
Oce has spent the last few years selling mainly to larger corporations as it struggled to compete with international home-printer manufacturers.
Tsuneji Uchida, president and chief operating officer of Canon, said that Oce represented an "ideal partner in every respect".
He added: "We believe that we will be able to realise clear benefits, not only in the area of R&D, but also in terms of product mix and marketing and are confident that this winning combination will contribute greatly to our goal of becoming the overall number one presence in the printing industry."
Oce will keep its own brand identity and will keep operating out of its current headquarters in Venlo, the Netherlands, and will function as division of Canon Global.
Canon hopes that the move will allow it to create a stronger force in the printer market to stand against other big corporate brands.
The last merger of this kind came last year when Ricoh bought American firm Ikon Office Solutions for $1.62 billion (£969.48 million), compared to the €730 million (£653.8 million) currently on offer between Canon and Oce.
Posted by Ramsey DeHani.