Konica Minolta Acquires Minority Stake in MGI Digital Graphic Technology, Forms Strategic Alliance
Tuesday, January 21, 2014
Press release from the issuing company
Konica Minolta, Inc. acquires a minority stake in MGI Digital Graphic Technology and forms a strategic alliance aimed at accelerating the innovation and commercialization of next generation digital printing solutions.
PARIS and Tokyo - Konica Minolta, Inc. and MGI Digital Graphic Technology (MGI) announced today that they have reached an agreement whereby Konica Minolta, Inc. will acquire a 10% stake in MGI, valued at €13.7m, through a reserved capital increase. This investment will be dedicated to drive future growth, and is part of a common long term vision to establish a stronger presence in the professional digital printing market.
Building on a strong relationship that has lasted over a decade, the two business partners have agreed to expand their collaboration by entering into a strategic alliance that leverages both co-development and the co-marketing of existing and future products.
Creating new and mutually rewarding opportunities, Konica Minolta, Inc. and MGI will build upon each other's strong history, proven track record of innovation and customer service to create a strong joint effort enabling long term successes.
This agreement will allow for:
- MGI to grow to greater heights as a global player, as it gains additional exposure supported by the strong reputation and positioning of Konica Minolta, Inc. worldwide;
- Konica Minolta, Inc. to capitalize on MGI's expertise in the digital printing market and its capacity to innovate;
- Both companies to devote their best efforts to expand sales of existing and new products, including, but not limited to, the Meteor Digital Press line;
As part of this alliance, MGI will maintain its independence and will remain autonomous in defining its strategic axes in the midst of a rapidly evolving industry landscape.
Edmond Abergel, CEO and Chairman of MGI: “We are very happy and proud that Konica Minolta recognizes our accomplishments and our unique capacity to innovate. This strategic alliance will be the basis for the development of tomorrow’s innovative digital solutions for the Graphic Art industry and printed electronic 3D.”
Konica Minolta, Inc. will promote the “genre-top strategy” (a strategy to concentrate the management resources on the most promising business areas and markets to ensure global leadership in these fields) in these growing markets, especially in the field of production printing systems.
Through this strategic alliance, Konica Minolta, Inc. aims to achieve group-wide growth and maximize its corporate value.
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