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Pharos Systems Acquires PathForward from Standard Register

Press release from the issuing company

DAYTON, Ohio -- Standard Register, a leading provider of document and print management services, today announced that it has completed the sale of certain assets of its PathForward business unit to Pharos Systems International.

Included in the sale are Standard Register's print optimization software (formerly known as SMARTworks Office Optimization Software) and related support, implementation and consulting services. Additionally, Standard Register and Pharos have agreed to a joint marketing agreement and the seamless transition of customers and employees.

Joe Morgan, president and chief executive officer, Standard Register, stated, "We cannot think of a better go-to-market partner than Pharos, an industry leader in office print that shares Standard Register's dedication to client satisfaction. This transaction reflects the sharpening of focus for Standard Register and our relentless pursuit of growth and profitability in our core markets."

Kevin Pickhardt, chief executive officer, Pharos Systems, said, "The acquisition will accelerate Pharos' growth in the corporate enterprise market. PathForward brings services proficiency and process excellence to our world-class software offerings. Pharos immediately enhances our resources and expertise to help customers optimize print across the enterprise in order to realize the most significant cost savings and achievement of sustainability goals. Pharos and PathForward both share a passion for helping customers lower print costs and use less paper."