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Toshiba Business Solutions Announces Two Acquisitions

14 Aug, 2006

Toshiba Business Solutions Announces Two Acquisitions

IRVINE, CA - Further growing its nationwide network of wholly owned subsidiary operations, Toshiba Business Solutions (TBS) today announced the acquisition of two dealerships - Copy Machines Inc. (CMI)/RJS Technologies, by its local subsidiary, Office Communications Systems Inc. (OCS), doing business as (dba) Toshiba Business Solutions-Texas (TBS-TX); and the Gold Coast portion of WOLCO Business Systems Inc., acquired by Skipco Inc., dba Toshiba Business Solutions-California/Nevada (TBS-CA/NV).

The two transactions represent TBS’ 44th and 45th dealer acquisitions since the inception of the company’s business expansion plan, supporting the overall objective of bolstering the TBS operation by acquiring leading independent dealers in key markets, including Texas and California.

“The acquisitions of CMI/RJS and WOLCO will bring strong new talent and experience to the TBS organization,” said Wayne Wilkinson, vice president / general manager, TBS. “Both acquisitions will bring additional revenue and operational scale to two of our existing subsidiaries. The combination of Toshiba’s outstanding product innovations coupled with our newly acquired partners’ years of industry and market expertise will provide the highest level of customer service.” Headquartered in El Paso, CMI/RJS operates from seven locations throughout Texas and southern New Mexico, and has been in business for 50 years. Prior to the acquisition, CMI/RJS sold only competitive brands of office equipment products.

The company employs 57 people under the leadership of former president R. Jon Crumley, who will remain with the company, reporting to Jim Magness, president of San Antonio-based TBS-TX. With the completion of this transaction, TBS-TX will now be comprised of 14 offices throughout Texas, employing more than 175 people.

“CMI/RJS has an excellent reputation within the west Texas and southern New Mexico communities,” said Magness. “The company’s solid business practices and exceptional customer support are a perfect fit for TBS-TX. We look forward to forging new relationships for the mutual benefit of our customers and our business.” WOLCO’s Gold Coast business serves Ventura, Santa Barbara and San Luis Obispo counties with offices in Ventura and Santa Maria, Calif. All 20 employees will remain with the company as it combines with TBS-CA/NV, led by president Craig Wiegman.

“We’re thrilled to have WOLCO as part of the Toshiba family,” said Wiegman. “The WOLCO Gold Coast acquisition allows Toshiba to have a strong presence throughout all of Southern California - a strategic opportunity to expand Toshiba’s product offerings in a key marketplace.”

In addition, the Central Valley portion of WOLCO’s business was acquired by Zoom Imaging Solutions Inc., an independent Toshiba dealer headquartered in Fresno.

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