FOR IMMEDIATE RELEASE SYMBOL: GISX
Friday, December 30, 2005 TRADED: Nasdaq
GLOBAL IMAGING SYSTEMS ACQUIRES CSC OFFICE AUTOMATION
Rolling Meadows, IL-Based CSC Becomes Part of Chicago Office Technology Group
TAMPA, Fla., Dec. 30 /PRNewswire/ --Global Imaging Systems, Inc. (Nasdaq: GISX) announced today that it has acquired CSC Office Automation, headquartered in Rolling Meadows, IL. The new addition sells and services Ricoh and Konica Minolta copiers and other office technology solutions. CSC, with annual revenues of approximately $3.6 million, will operate as a part of the company’s Chicago Office Technology Group (COTG).
Global Imaging President and Chief Operating Officer Michael Shea said, “CSC has built a strong reputation in the Chicago-area market, distributing some of the same brands of office automation equipment that we have in many of our locations. Owner Art Fitzgerald is electing a well-deserved retirement, and we are pleased that he is entrusting a company that he founded to our stewardship.”
Phil Lampugnano, president of COTG, a Global core company based in Bolingbrook, IL, said, “The people at CSC are top quality professionals who share our determination and drive, as well as our focus on great customer service. We are confident this will be an exciting and productive expansion of our joint capabilities. The acquisition expands our customer base and gives us more comprehensive coverage of the greater Chicago market.”
Global Imaging Systems offers thousands of middle-market customers a one-stop shop for office technology solutions in 30 states and the District of Columbia. The company provides a broad line of office technology solutions including the sale and service of automated office equipment, network integration services, and electronic presentation systems. The company is also a disciplined, profitable consolidator in the highly fragmented office technology solutions industry.
This news release contains forward-looking statements and statements based on forward-looking information, including statements relating to Global’s anticipated future acquisitions. These statements are based on numerous assumptions and are subject to uncertainties and risks, which could cause Global’s results to differ materially. Most of these risks are discussed in more detail under the caption “Risk Factors” in Global’s annual report on Form 10-K for the year ended March 31, 2005.
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/CONTACT: Michael Shea, President and COO, Global Imaging Systems, Inc., 813/960-5508 or Phil Lampugnano, President, COTG, 630/771-2600 or Investor Relations Consultants, Inc., 727/781-5577 or E-mail: gisx@mindspring.com/