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 SYDNEY, 24 October, 2019 — Fuji Xerox Co., Ltd., has announced today that its subsidiary and the parent company of Fuji Xerox Australia Pty. Limited, Fuji Xerox Asia Pacific Pte Ltd, has entered into an agreement with CSG Limited (ASX: CSV, "CSG") to propose the acquisition of CSG. Under the agreement, Fuji Xerox Asia Pacific Pte Ltd proposes to acquire all of the shares in CSG by way of Scheme of Arrangement ("Scheme") under Australian law. Upon completion of the Scheme, Fuji Xerox Asia Pacific will acquire all of CSG's shares and CSG will become a subsidiary of Fuji Xerox Asia Pacific.
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. It posted sales of approximately 217.6 million AUD for the fiscal year ending June 2019 and it currently serves 27 locations with 670 employees.
"The acquisition reflects the company's desire to deliver growth and expand its customer base into Australia's small to medium businesses (SMB) sector," says Fuji Xerox Australia's Managing Director Takayuki Togo. "This delivers on our strategy to broaden the Fuji Xerox offer to a diverse range of organisations across various businesses with the addition of relevant software, solutions and services that customers are now demanding from print and document providers. It is important our customers are in a position to rely on us to address their biggest business challenges, keep them competitive and enable them to focus on their core business."
About 90 percent*1 of the companies in Australia and New Zealand are SMBs and this acquisition allows Fuji Xerox to reach those customers with its first-class suite of solutions. SMB customers will now be able to increase access to services and products to enable their businesses to thrive by leveraging the deep history and expertise of Fuji Xerox in printing and imaging.
The proposed acquisition will be for cash consideration. Future steps necessary to complete this acquisition include obtaining approval of CSG's shareholders at a shareholders' meeting, receiving approval from an Australian court, and obtaining necessary approvals from Australian and New Zealand regulatory authorities and the satisfaction of other customary conditions. The Scheme is expected to be completed by mid-February, 2020.
*1 According to Fuji Xerox's own survey
- Xerox, Xerox and Design, as well as Fuji Xerox and Design are registered trademarks or trademarks of Xerox Corporation in Japan and/or other countries.
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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. https://www.fujixerox.com
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.
For further information please visit www.csg.com.au or www.csg.co.nzMedia Enquiries:
Nion Masrungrong / Elaine Goh
Regional Communications, Asia Pacific Operations
Fuji Xerox Asia Pacific Pte Ltd
DID: +65 6239 3969
Email: email@example.com / firstname.lastname@example.org