ARC's Chinese Joint Venture Acquires Shenzhen Firm
Wednesday, September 28, 2011
Press release from the issuing company
WALNUT CREEK, CA, – ARC, one of the nation's leading document solutions companies, today announced that UNIS Document Solutions ("UDS"), its joint venture in China, has acquired a leading print-on-demand service provider in Shenzhen, China, through a newly-formed subsidiary which will operate under the brand name "UNIS Print General," or "UPG."
UPG operates a centralized service facility in downtown Shenzhen, one of the world's fastest growing cities. The city is Southern China's financial hub, and is headquarters to a high concentration of technology, business service, and manufacturing companies. UPG offers a variety of outsourced print-on-demand services, onsite services, and equipment sales. The company employs 40 people and had year-end revenues of USD $11 million in 2010.
"Shenzhen is a bright spot, even in a vibrant economy like China's," said K. "Suri" Suriyakumar, Chairman, President and CEO of ARC. "While we have moderated our M&A activity in the past several years, UPG is one of a handful of great opportunities to meaningfully grow our market share in China. There are hundreds of technology, financial and business service companies in the area, several of which are already our customers. With UPG joining our team, it helps us consolidate another strategic hub in China and provides an excellent platform on which to expand our business."
ARC and UDS already have a significant operating presence in the Northern and coastal parts of the Chinese mainland with three locations in Beijing and two locations in the industrial hub and port city of Shanghai. Along with the UDS office in Hong Kong, UPG anchors the company in the South. Maintaining a strategic footprint is an important part of ARC's business model as it facilitates the distribution and adoption of the company's outsourced services, improves access to its cloud technology offerings, and consolidates market share.
Henry Shen, General Manager of UPG and one of the company's founders, said, "We're looking forward to working with UNIS and ARC. Their experience, geographical distribution, financial strength and technology expertise are huge advantages we can use to grow our business. We're very excited about becoming a part of the team."
To post a comment Log In or Become a Member, doing so is simple and free