Standard Register Completes Acquisition of InSystems
Press release from the issuing company
DAYTON, Ohio & TORONTO--July 3, 2002-- Standard Register, a leading information solutions provider, today announced that it has completed its $89-million acquisition of InSystems Technologies, Inc., a leading provider of e-business solutions for financial services organizations.
"This acquisition is an important step in implementing our strategy of being a strategic thought partner to customers in improving business results by leveraging information. With InSystems' outstanding team, technology and customer relationships combined with ours, we have the advanced solutions, technologies and talent to help companies improve processes and organize, manage and distribute information in both paper and digital infrastructures," said Dennis L. Rediker, president and chief executive officer of Standard Register.
InSystems Calligo integrated document-automation software helps organizations create, manage and distribute highly personalized, error-free documents. It also automates important business processes including compliance filings, document fulfillment and customerservice. InSystems eXterity extended relationship management (XRM) software enables organizations to interact seamlessly via the Internet with their entire value network, including customers, suppliers, partners, regulators, and other constituents. Standard Register's technology offerings include SMARTworks e-business solutions that connect buyers and suppliers of business printing and also provide management tools that significantly reduce companies' costs associated with designing, procuring, distributing, and managing printed and electronic documents. These innovative technology products are part of Standard Register's complete solution that includes workflow and document security consulting; paper and electronic document design and output; digital print on demand and other print solutions; fulfillment services; and document-processing and automatic identification systems.
Industry analysts said the following in response to the acquisition:
"Businesses today are concerned about distributing content that is timely and relevant, via both paper-based and electronic media. With this acquisition, Standard Register is further positioning itself as a full-service strategic partner, ready to help customers leverage multiple technologies for effective content delivery," said Holly Muscolino, director, Production Workflow Solutions Service, CAP Ventures.
"Standard Register's acquisition of InSystems has the potential to help fulfill a growing need in the insurance and financial services industry: to marry traditional document creation/management needs (i.e. marketing, compliance) with new value delivery chain processes, enabling collaborative management of marketing and fulfillment needs among product manufacturers, wholesalers, brokers, agents and other intermediaries," said Chuck Johnston, vice president and director, Insurance Information Strategies, META Group, Inc.
The acquisition helps Standard Register address broader industry trends, including the convergence of insurance, banking and other financial services, and an increased emphasis on security.
"Insurance and financial services providers are facing many industry challenges such as convergence, shifting consumer expectations and increased competition. To combat these challenges, providers will increasingly require solutions that support both relationship management and the ability to centralize content across the enterprise, which will enable organizations to achieve greater channel management," stated Kimberly Harris, research director, Gartner Research. "While reducing the integration requirements, such solutions would help mitigate the risks that insurance and financial services providers face and better prepare them to succeed in the market."
"Document management is a critical corporate competency--both in managing enterprise access to key information sources and protecting shareholder value through reducing the business risk of losing valuable information during a catastrophe, security breach or other unplanned incident. With this acquisition, Standard Register has the ability to help companies bring together paper-based and digital document assets under a single management framework, helping to solve a problem with which companies in many industries, including insurance, continue to struggle," said Judy Johnson, vice president, Insurance Information Strategies, META Group, Inc.
InSystems will operate as a subsidiary of Standard Register.
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