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Kinko's Completes ImageX Acquisition; Announces Printing Division

Wednesday, May 14, 2003

Press release from the issuing company

DALLAS, May 13 -- Kinko's, Inc. today announced that the company completed its acquisition of ImageX, Inc. As a result of the $16.5 million merger, Kinko's introduced Kinko's Printing Division, a new organization dedicated to managing and marketing the online business cards, stationery and branded print material solutions for large commercial customers. In a related announcement today, the company tapped Jim McCurry to lead the new unit as a Kinko's senior vice president and president of Kinko's Printing Division. "We're looking forward to serving our commercial customers with an enhanced range of branded business printing services and benefiting from the technical and production expertise of the team members who join us through this deal," said McCurry. "With ImageX's technology and expertise as the foundation of our new Kinko's Printing Division, we will build upon Kinko's position as a one-stop shop serving day-to-day document and branded printing needs for our commercial customers." The acquisition is expected to position Kinko's as a leader in the business card and business stationery market thanks to ImageX's Web-to-plate back-end production process, which delivers convenient access, ensures high quality, and minimizes errors -- critical features for large businesses with distributed workforces. Each client company accesses the service through a secure, private Web site that provides enterprise-wide control over the ordering and fulfillment of branded print materials. The capabilities ImageX brings to Kinko's are also expected to enhance Kinko's existing Web-based printing services, including kinkos.com and Kinko's DocStore. The acquisition was finalized after a successful tender offer for the outstanding shares of ImageX, which is now operating as a wholly owned subsidiary of Kinko's, Inc., a privately-held company. Nearly all of ImageX's approximately 250 employees, working in four U.S. production facilities, are being integrated into the Kinko's workforce.




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