Canon, the maker of cameras and office equipment, has acquired Oce, a Netherlands-based producer of copiers and printers for $1.1 billion. The deal took place despite Orbis Portfolio Management's attempt to get Oce to sell out to Konica Minolta.
In a statement, the two companies said they aim to become a major force in the international printing industry. With Canon's sales and marketing, and Oce's expertise in production printing, wide-format printing and business services, that goal shouldn't be a problem.
According to Canon president Tsuneji Uchida, the merger will deliver "clear benefits" in research and development, product mix and marketing." In addition to wide-format printing and document management, the newly merged companies would like to be a top producer for the small business and home office sectors.