Acquisition to accelerate growth of Canon's solutions business
Reference is made to the joint press release of Canon and I.R.I.S. Group SA of 18 September 2012 regarding Canon's intention to acquire I.R.I.S. Group SA. Canon, world-leader in imaging solutions, via its subsidiary Canon Europa N.V., today announced the opening of a voluntary and conditional public takeover bid in cash for all shares, warrants and stock options of I.R.I.S. Group SA. The initial acceptance period under the offer begins on 6 February 2013 and ends on 20 March 2013.
The bid relates to all shares (including treasury shares) which are not held by Canon Europa N.V., the warrants and stock options issued by I.R.I.S. Group SA. The offer price per share is EUR 44.50, and the price for warrants and stock options has been determined in accordance with market practices.
Canon already has a close strategic partnership with I.R.I.S. Group, developed over a number of years, which was strengthened in July 2009 when Canon acquired a 17% stake in the company. Bringing I.R.I.S. Group into the Canon Group will allow both companies to cooperate more closely in developing a range of technology solutions to be able to better serve their customers in the business environment.
Rokus van Iperen, President & CEO, Canon Europe, Middle East and Africa, comments: "Both management teams are committed to successfully completing the process already underway to bring I.R.I.S. Groupinto the Canon Group, and we look forward to working closely together to drive future growth. We are confident that I.R.I.S. Groupwill play a key long term role in building Canon's solutions and business services portfolio."
Pierre de Muelenaere, President & CEO, I.R.I.S. Group, comments: "The technological world is changing fast. We are offering a strong portfolio of innovative solutions and complementary services that can generate significant business benefits for our partners and clients. This portfolio fits extremely well with Canon's strategy to develop a strong solutions and services activity at international level. Both I.R.I.S.'s Board of Directors and Management are therefore unanimously supporting the Bid and committed to it."