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New Toshiba Acquisition

16 May, 2003

New Toshiba Acquisition

SAN ANTONIO, TX—Office Communications Systems Inc. of San Antonio has been acquired by the Toshiba Corp. and will now operate as a subsidiary of Toshiba America Business Solutions Inc., the Irvine, CA-based office equipment arm of the Japanese company. The acquisition closed in April and OCS and Toshiba employees have been making the transition to bring all local operations into the fold.

Founded in San Antonio in 1983, OCS sells copiers, fax machines, office printers, parts and supplies to businesses in San Antonio, Austin, Corpus Christi, Harlingen, Laredo, McAllen and Victoria. The company has a total of 130 employees, including about 80 in San Antonio.

OCS Founder Jim Magness will remain on board as president of the Texas company. He has been given the go-ahead to keep management and local operations in place and says he decided to sell the business to Toshiba in order to concentrate on growing OCS' office-equipment business further in Texas. With the backing of Toshiba's management, Magness has been given the authority to expand OCS through acquisitions across the state, including exploring deals in Houston and Dallas.

OCS will now sell Toshiba products as part of its existing lines, including Toshiba-branded laptops, office projectors and Personal Digital Assistants (PDAs). OCS employees also will have enhanced employee benefits and a 401(k) match from Toshiba. As part of the acquisition, OCS will discontinue selling the Lanier, Ricoh and Konica brands of copiers in favor of Toshiba copiers, but will continue to provide customers with parts and service on their equipment. The balance of OCS' product line will remain the same.

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