Fuji Xerox Signs Agreement to Propose Acquisition of Australian Office IT Services Provider, CSG
Expanding Sales of IT Solutions and Office Printing Equipment to SMBs in Australia and New Zealand
TOKYO and Auckland, New Zealand, 24 October, 2019 – Fuji Xerox Co., Ltd. has announced today that its subsidiary and the shareholder of Fuji Xerox New Zealand, Fuji Xerox Asia Pacific Pte Ltd, has entered into an agreement with CSG Limited (ASX:CSV) to propose the acquisition of CSG by way of Scheme of Arrangement.
CSG is an independent company based in Australia and New Zealand that provides printing equipment and IT services for the offices of nearly 10,000 client companies, mainly SMBs. The company was founded in Darwin, Australia in 1988, posted sales of approximately AUD$217.6 million for the fiscal period to June 2019 and currently serves 27 locations with 670 employees.
“The internal changes we’ve introduced in recent years has seen a return to doing the basics really well, which recently translated into a return to profitability and with that confidence from our shareholder to continue investing in our future here in New Zealand,” says Peter Thomas, Managing Director, Fuji Xerox New Zealand. “This acquisition will materially expand and diversify our footprint across the industry in New Zealand. We’re operating in a highly competitive industry and the two companies are naturally complementary in terms of the client segments we each service.”
Thomas continues: “Our strategy is about getting out in front of a maturing print services business and CSG’s IT Services platform represents an opportunity to strengthen the value proposition we can bring to customers, who are looking to us to lead in bringing integrated and cost-efficient solutions.”
The proposed Share Acquisition is expected to be completed by mid-February 2020.
Future steps necessary to complete the proposed acquisition include obtaining approval by CSG’s shareholders’ meeting, receiving approval from an Australian court, obtaining necessary approvals from the respective regulatory authorities in New Zealand and Australia, and the satisfaction of other customary conditions.
About Fuji Xerox
Founded in 1962, Fuji Xerox Co., Ltd. is a leading company in offering smarter ways to work with its document-related solutions and services, as well as with the world-class office multifunction devices, printers and production printers that we develop and manufacture for worldwide distribution.
Fuji Xerox is a consolidated subsidiary of FUJIFILM Holdings Corporation with direct sales force covering Japan and the Asia-Pacific region including China. As a 10 billion dollar enterprise, we employ approximately 40,000 people globally, with more than 80 domestic and overseas affiliates / sales subsidiaries.
Fuji Xerox Asia Pacific is the subsidiary of Fuji Xerox overseeing sales operations in the Asia-Pacific region.
About CSG Limited
Founded in 1988, CSG is a publicly listed ASX company with a 30-year history of providing print and business technology solutions in Australia and New Zealand, supported by an in-house equipment financing business. CSG has a national sales and service footprint in both countries concentrating on SME customers.
CSG provides print and display solutions, managed information technology, desktop, cloud-unified communications and contact centre solutions. CSG focuses on providing these information technology services and technologies as a subscription service, supported by a national service network.
CSG’s product and service offering provides SMEs with access to the latest technologies with minimal capital outlay as well as a single point of contact for their entire office technology needs.
CSG employs approximately 670 people and operates out of 27 offices across Australia and New Zealand.
Established in 2004, CodeBlue (a CSG Company), offers secure, global and reliable managed IT solutions to SME customers across Australia and New Zealand, including proactive IT Support Services, Cyber Security, Data Backup and Recovery, IT Strategy, and Cloud Services.
Employing more than 200 staff across multiple locations within New Zealand and Australia, CodeBlue is the largest trans-Tasman IT services company specialising in the SMB market.
Overview of CSG Limited
Head office location: Melbourne, Australia
Locations: Australia – Melbourne, Sydney, Brisbane, plus 12 locations
New Zealand – Auckland, Wellington, Christchurch, plus nine locations
Established / Listed year: Established in 1988, ASX listed in 2007
Current management: Bernie Campbell (Chairman), Mark Bayliss (Acting CEO and Managing Director)
Number of employees: 670, as of September 2019
Business operations: Sales, installations, maintenance and providing services of office IT equipment for SMBs
027 511 1561