GENICOM Corporation Completes Acquisition of Harris Adacom Network Services

Strategic Insights -

GENICOM Corporation has completed the acquisition of substantially all of the assets and certain liabilities of Harris Adacom Network Services, Inc. (HANS) for approximately $36.0 million in annual revenues. The acquisition strengthens GENICOM's presence in the United States and Canada, expanding its market share and eliminating duplicative cost structures. This move is expected to positively impact GENICOM's 1995 earnings. The combined entity will offer a comprehensive range of computer printer technologies, hermetically sealed relays, and multivendor depot and field support services.

Key Takeaways:

  • GENICOM Corporation acquired substantially all of the assets and liabilities of Harris Adacom Network Services, Inc. (HANS) including the Canadian subsidiary, Harris Adacom Inc.
  • The acquisition includes HANS's service depot facility, field service operations, hardware integration business, and network diagnostic and monitoring operations in the United States and Canada.
  • The transaction is expected to add approximately $36.0 million in annual revenues to GENICOM Corporation, with total revenues of $233.8 million in 1994.
  • The combined entity will benefit from the elimination of duplicative cost structures, leading to a favorable impact on GENICOM's 1995 earnings.
  • GENICOM Corporation, through its Enterprising Service Solutions business, provides multivendor depot and field support, express parts, and professional services.
  • GENICOM has its headquarters near Washington, D.C. and designs, manufactures, markets, and services a wide range of computer printer technologies and hermetically sealed relays.

Statistics:

  • GENICOM Corporation acquired approximately $36.0 million in annual revenues from the acquisition of HANS.
  • The combined entity will have total revenues of $269.8 million in 1995 ( $233.8 million in 1994 +$36.0 million from HANS).
  • HANS's service operations in the United States and Canada will be integrated into GENICOM's worldwide operations.
  • The acquisition is expected to positively impact GENICOM's 1995 earnings due to the elimination of duplicative cost structures.

Sources:

  • PR Newswire, "GENICOM Corporation Completes Acquisition of Harris Adacom Network Services", March 2, 1995.