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Global Imaging Systems Acquires 20th Core Company

25 Sep, 2006

Global Imaging Systems Acquires 20th Core Company

TAMPA, FL - Global Imaging Systems, Inc. has acquired CopyCo Office Solutions, Inc., headquartered in Indianapolis, Indiana. CopyCo, with annual revenues of approximately $13 million, becomes Global's 20th core dealership. The new addition sells and services Canon and Gestetner copiers and facsimile machines throughout the greater Indianapolis area and reaches to eastern Illinois and Terre Haute, Indiana.

Global Imaging President and COO Michael Shea said, "This is an exciting new market for Global. CopyCo President and former owner Bill Schmidt, 45, embodies the strong industry experience and entrepreneurial energy that typifies the leadership in our core companies. CopyCo, with its customer focus, has earned an outstanding service reputation in this market. As a result, CopyCo is one of the fastest growing and well respected office technology providers in the Indianapolis market."

Mr. Schmidt said, "Our employees and management team are extremely excited about joining Global. The Global companies represent the finest in this industry. We look forward to learning from each of them and adding our energy to the group. The marriage of CopyCo's spirit and Global's resources will be a winning combination."

Mr. Shea added, "This is an opportune acquisition for us. It is a strategically located core dealership that becomes part of our disciplined, ongoing effort to fill out our dealer network in the top 250 markets in North America. More specifically, CopyCo will help Global put greater focus on the large Midwest marketplace. With our strong operations in the greater Chicago metropolitan market, throughout Michigan, and now in Indianapolis, we are building the kind of footprint that we ultimately envision for the entire Midwest. We are holding to our previously announced expectation of acquiring $60 to $100 million in annualized revenues during the fiscal year ending March 2007."

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