GENICOM to Buy TI's Printer Business TI Puts More Focus on Mobile Computing, Educational Calculators
Dallas, Texas (July 23, 1996) - GENICOM Corporation and Texas Instruments (NYSE:TXN) today announced they have signed an agreement for GENICOM to acquire the worldwide printer and related supplies business of TI. Financial terms were not disclosed.
"This agreement sharpens the focus of both companies and makes each of us stronger and better equipped to serve our customers," said Dr. Pallab Chatterjee, president of TI's Personal Productivity Products business. "Over the past 18 months, we have been increasing our investments in marketing and product development for mobile computing and educational calculators. This agreement with GENICOM will provide additional resources for a sharper focus on these efforts."
The acquisition includes TI's family of OMNI 800( impact printers, travel document printers, and the microLaser( line of non-impact printers, as well as supplies and consumables. The acquisition does not include any of TI's facilities or manufacturing operations.
"TI's printer business is a good match for GENICOM," said Paul T. Winn, president and chief executive officer of GENICOM. "It doubles the size of our core business and increases our market share in high-end serial printers and mid-range laser printers. It also adds a new, complementary business in ticket printers, and broadens our service and supplies operation."
The acquisition is subject to appropriate regulatory clearances and is expected to be completed during the third quarter.
GENICOM will offer employment to many TI engineering, marketing and sales employees currently in the printer business. TI will work to place any remaining employees in other jobs inside TI, or provide outplacement assistance if other jobs are not available.
GENICOM Corporation is an international supplier of printer solutions, multivendor services, and network management services. Document Solutions designs and markets a wide range of computer printer technologies for general purpose applications. Enterprising Service Solutions Group provides logo and multivendor product field support, depot repair, express parts and professional services, as well as integrated network solutions, which include integration of networks, network monitoring product/services and consulting. GENICOM is headquartered within metropolitan Washington, D.C.