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Computer peripherals industry

TROY and Hewlett-Packard Expand Agreement on Desktop Check Printing

Strategic Insights

— 1 min read

TROY, a division of Pierce Companies Inc., has significantly extended and expanded its agreement with Hewlett-Packard Co. in the desktop check printing market. The new agreement provides magnetic ink character recognition (MICR) functionality for the complete family of HP LaserJet printers, serving as HP's sole U.S. source for MICR solutions. TROY offers hardware, software, services, and supplies for printing MICR-encoded, negotiable documents, and its software ties into leading desktop accounting packages. The companies will jointly market a line of products to corporations, government agencies, and other enterprises requiring MICR-encoded documents.

Key Takeaways:

  • TROY and Hewlett-Packard have expanded their agreement in the desktop check printing market, providing MICR functionality for the complete family of HP LaserJet printers.
  • The agreement makes TROY the sole U.S. source for MICR solutions for HP printers.
  • TROY offers a range of MICR supplies, including toner solutions for HP printers.
  • The companies will jointly market a line of products to corporations, government agencies, and other enterprises requiring MICR-encoded documents.
  • TROY software ties into leading desktop accounting packages, providing financial control, security, and remote check disbursement capability.
  • HP will offer the TROY Network Partner Program for resellers to dealers in the reseller channel, providing incentives, discount pricing, and training.
  • TROY will conduct a direct mail campaign targeting resellers to generate leads.

Statistics:

  • Over 30 million printers have been sold worldwide by HP since 1984.
  • TROY maintains a worldwide leadership position in MICR technology and computerized MICR printing systems.
  • The TROY/HP solution is targeted at key vertical markets such as banking, insurance, payroll, and current HP laser printer users.

Sources:

  • TROY, "Troy and HP Expand Agreement in Desktop Check Printing Market", May 1, 1995.
  • Business Wire, "TROY, a Division of Pierce Companies Inc., Expands Agreement with Hewlett-Packard", May 1, 1995.
  • Hewlett-Packard Co., "Hewlett-Packard Signs Agreement with TROY to Expand Check Printing Solutions", May 1, 1995.
  • TROY, "TROY Offers MICR Supplies and Solutions for HP Printers", 1995.
  • TROY, "TROY Conducts Direct Mail Campaign to Generate Leads for Resellers", 1995.

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