Management

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Tokyo (June 4, 2015) - Konica Minolta, Inc. (Konica Minolta) today announced that Konica Minolta Business Solutions U.S.A., Inc. (KMBUS), its sales company based in Ramsey NJ, has acquired SymQuest Group, Inc. (SymQuest), headquartered in South Burlington VT and Westbrook ME.

Through this acquisition, KMBUS will be further enhancing its hybrid-type sales structure to provide combination of MFP-centered Document Solutions and Managed IT (MIT) services, and offering customers with high value-added solutions.

Effect

SymQuest has taken full advantage of its highly skilled human resource and broad know-how in both Document Solution and Networking Service and has been developing the hybrid-type sales model closely centered on the customers in the northeastern U.S. (VT, NY, NH, and ME) since its establishment in 1996. As a result of the acquisition, KMBUS acquires all tangible and intangible assets of SymQuest.

KMBUS enhances its hybrid-type business in the U.S. by taking advantage of integrating SymQuest’s assets with Konica Minolta Group’s IT service menu and OPS^*. Further, with the addition of each branch of SymQuest, KMBUS strengthens its direct sales and service structure and is well positioned to directly provide customers with high value-added solutions.

^* OPS (Optimized Print Services): Services that optimize customers' print environment (output and document management environment) to reduce costs and increase efficiency.

Overview of SymQuest

Company Name	SymQuest Group, Inc.
Established	February 9, 1996
Headquarters	South Burlington VT and Westbrook ME (Dual HQs)
Number of employees	185 (as of January 2015)
Business operation	Hybrid dealer engaged in Managed IT Services and Document Solution
Sales	$38.5M (FY2014)

The date of contract for the acquisition

June 2, 2015

Under its Medium Term Business Plan “TRANSFORM 2016”, the expansion of hybrid-type business structure in the office service sector is one of Konica Minolta's major management policies, and has been making achievements. In the U.S., Konica Minolta has been making proposals earning high customer satisfaction on not only MFP-centric Document Solutions but also MIT.

Going forward, Konica Minolta drives its efforts to provide services that combine MFP, document solutions, and MIT in a new way to create solutions for customers all over the U.S. For that purpose, Konica Minolta determined it is highly effective to accelerate these initiatives with strengthened structure by acquiring the company that has expertise in hybrid-type sales and its know-how.

With its brand proposition “Giving Shape to Ideas”, Konica Minolta will continue enhancing its presence in the office service field and the corporate values of the Konica Minolta Group through offering of solutions and services that fulfill the customers' needs and bring high added values.