DPOE acquires Chicago-based Document Vision Technologies Firm2 May, 2007
DPOE acquires Chicago-based Document Vision Technologies Firm
ELK GROVE VILLAGE, IL - Des Plaines Office Equipment (DPOE), the Chicago area’s leading provider of office equipment solutions since 1955, today announced that it has completed the acquisition of Document Vision Technologies (DVT), a four-year old Chicago-based office products firm.
Chip Miceli, President of DPOE, did not disclose the terms of the sale but noted that DVT had performed in the $5 million annual sales range, with the majority of its effort concentrated on Kyocera office equipment. The DVT location, 20 North Wacker, Chicago, will remain open and will now operate under the DPOE brand. A number of the DVT employees have been brought over to DPOE, and former DVT President John Specht has been named Director of Sales for DPOE.
“This is a good strategic move for us,” said Miceli, who noted that this expands the 52 year old firm’s marketshare in Chicago and will have an immediate increase in the company’s overall sales volume. “We are already a leading Sharp dealer nationally, and the addition of this firm with its Sharp accounts will benefit us as well as our clients,” he said.
The acquisition of DVT and its conversion to a DPOE location brings the total number of locations to four for the fast-growing company. DPOE again this year won the Sharp Hyakuman Kai award for excellence in sales and solutions, and has increased its total number of employees to 74. The firm anticipates an increase in overall sales this year of 20% due in part to the DVT acquisition.
Miceli said that his firm is considering additional locations within the next several years. “The technology is rapidly changing in our industry,” he said. “Our business began 52 years ago selling Underwood typewriters and Olivetti calculators. Our challenge is to stay ahead of the technology that is driving our industry, while at the same time providing superior service. We look forward to these challenges.”