Standard Register Acquires Select Operations of PlanetPrint
Press release from the issuing company
Acquisition to bolster Standard Register's consulting, software and document outsourcing services and add new web-enabled digital, color, print-on-demand capabilities
DAYTON, Ohio--July 15, 2002-- Standard Register today announced it has acquired consulting and software services operations and a state-of-the-art print-on-demand (POD) operation from PlanetPrint, a business services company headquartered in Minneapolis. Terms of the transaction were not disclosed.
Standard Register expects the acquisition to enhance its long-term growth and shareholder value while further positioning the company as a leading information solutions provider that helps companies drive efficiency and achieve customer loyalty.
PlanetPrint provides consulting, software development and integration services, and a comprehensive suite of digital, on-demand printing and outsourcing services to Fortune 1000 and mid-sized companies in industries including financial services, telecommunications, retail, and book publishing.
"The PlanetPrint team has demonstrated an incredible customer focus--leveraging a knowledge of need--and providing the expertise and technological capabilities that bring dramatic results for customers," said Dennis L. Rediker, president and chief executive officer of Standard Register.
PlanetPrint's consulting team helps customers achieve a net savings of 15 to 40 percent of their annual print expense through an enterprise-wide print-communications strategy that includes analyzing, mapping and reengineering document workflow, improving on-site print/data center operations, and helping companies make fact-based print sourcing and technology investment decisions. PlanetPrint's software and document engineers develop custom e-business solutions, such as an Internet-based marketing-communications solution that helped a financial services company increase its direct-marketing response rate eightfold through more personalized business communications and closed-loop campaign management. The company's web-enabled digital printing, binding and fulfillment operation in Dallas delivers customized communications solutions--from full-color product manuals and perfect-bound books to training materials and benefits handbooks--in quantities as low as one and with turnaround typically less than 24 hours.
"PlanetPrint has proven to be an innovative technology provider and a reliable and efficient publishing partner for our customers such as Baker & Taylor, Borders and Sun Microsystems," said Kimra Hawley, chief executive officer of iUniverse, the largest independent U.S. publisher and second largest publisher, by title, in the world.
"PlanetPrint's management team is highly experienced and well-respected in our industry," said Charles A. Pesko, founder and managing director of CAP Ventures. "Their technology solutions have proven effective and firmly address market trends including the use of one-to-one marketing to increase revenues and build customer loyalty."
According to CAPV research, the benefits of personalized print communications include driving 25 percent or higher increases in response rate and order value and increasing customer retention/repeat orders by nearly 50 percent.
"PlanetPrint's Web-enabled printing technology, consultative sales process, operational excellence, and outstanding management team and workforce make it an ideal addition to Standard Register," said Peter A. Dorsman, executive vice president and chief operating officer. "Its focus of 'Print Less ... Print Better ... With More Relevance' aligns perfectly with our drive to help companies improve their results by leveraging information."
PlanetPrint's solutions along with those of Standard Register technology subsidiaries--SMARTworks (www.smartworks.com) and InSystems (www.insystems.com)--collectively set the standard for web-enabled communications and process improvement. And combined with Standard Register's network of STANFAST(TM) and fulfillment centers, the acquisition helps position Standard Register to lead in the multi-billion-dollar document outsourcing and print on demand (POD) markets, projected by industry analysts to grow at double-digit rates.
Keith Nickoloff, PlanetPrint chief executive officer and president, said, "We are excited to become a part of Standard Register. The company has the vision, leadership, financial strength, capabilities and market credibility to help us better serve customers and further accelerate growth."
PlanetPrint's consulting practice in Rochester, N.Y., the software-integration group in Minneapolis, and the POD operation in Dallas that were acquired by Standard Register represent approximately $17 million in combined 2001 revenues and a workforce of about 100 people.
Not associated with the acquisition is another PlanetPrint business, Meyers Communication Services (MCS), Minneapolis, that will continue to operate under the MCS name.
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