Global Imaging Systems Acquires TML Enterprises, Inc.
March 23 2007 - 8:40AM
PR Newswire (US)
Virginia Company Becomes Part of Electronic Systems (ESI) TAMPA,
Fla., March 23 /PRNewswire-FirstCall/ -- Global Imaging Systems,
Inc. (NASDAQ:GISX) announced today that it has acquired TML
Enterprises, Inc., headquartered in Manassas, VA, and serving the
northern Virginia and western D.C. market. The new acquisition
provides complete office technology solutions through sales and
service of Konica Minolta and Sharp copiers, fax and multifunction
products and HP printers. TML Enterprises, with annual revenues of
approximately $10 million, will operate as a part of ESI, a Global
Imaging core company serving middle market and mid-major customers
throughout Virginia. Global Imaging President and Chief Operating
Officer Michael Shea said, "The people at TML are top quality
professionals, and Mike Hoover and his partner Tom Lensis have
built a growing and profitable business. This strategic acquisition
of a key independent dealer not only strengthens our already strong
market position in Virginia, but also continues our disciplined,
ongoing effort to fill out our dealer network in the top 250
markets in North America." Dan Cooper, president of ESI and senior
vice president - sales for Global Imaging Systems, said, "TML has
earned a reputation as one of Virginia's top providers of office
technology. The acquisition expands our customer base and gives us
more comprehensive coverage of Prince William County, which has a
significant economic base and high growth. We complement each other
not only with geographically contiguous markets, but also with
similar operating strategy, customer focus and product offerings."
Mr. Hoover, who continues as president of TML, said, "We are
excited about joining ESI and working with the entire Global team.
Global's emphasis on customer service and its benchmark operating
model are well known in the industry. Our management and employees
look forward to sharing in Global's steady growth and, more
importantly, sharing best practices in providing solutions to our
customers." About Electronic Systems (ESI) Electronic Systems is
the region's largest full-service integrator/office automation
company providing total-solutions packages for its customers. The
company offers information technology solutions, digital copiers
and multifunction products (MFPs), printer service and supplies,
and technology training. Founded in 1980, ESI has grown to more
than 500 employees with offices in Virginia Beach, Norfolk, Newport
News, Richmond, Lynchburg, Roanoke, Alexandria, Washington, D.C.,
and Raleigh, N.C. About Global Imaging Systems Global Imaging
Systems offers thousands of middle-market customers a one- stop
shop for office technology solutions in 32 states and the District
of Columbia. The company provides a broad line of office technology
solutions including the sale and service of automated office
equipment, network integration services, and electronic
presentation systems. The company is also a disciplined, profitable
consolidator in the highly fragmented office technology solutions
industry. This news release contains forward-looking statements and
statements based on forward-looking information, including
statements relating to Global's anticipated future acquisitions.
These statements are based on numerous assumptions and are subject
to uncertainties and risks, which could cause Global's results to
differ materially. Most of these risks are discussed in more detail
under the caption "Risk Factors" in Global's annual report on Form
10-K for the year ended March 31, 2006. DATASOURCE: Global Imaging
Systems, Inc. CONTACT: Michael Shea, President and COO of Global
Imaging Systems, Inc., +1-813-960-5508; or Dan Cooper, President of
Electronic Systems, +1-757-497-8000; or Investor Relations
Consultants, Inc., +1-727-781-5577 or E-mail,
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