GLOBAL IMAGING SYSTEMS, INC.

Xerox to buy Global Imaging Systems for $1.5 bln By Kenneth Li NEW YORK (Reuters) - Xerox Corp. (XRX.N: Quote, Profile , Research) said on Monday it will buy office technology products provider Global Imaging Systems Inc. (GISX.O: Quote, Profile , Research) for $1.5 billion as it seeks to expand its reach in the small and mid-sized business markets. The acquisition will be Xerox's third and largest in the past 12 months as the copy machine maker tries to boost growth in equipment revenue, a sore point in its fiscal third-quarter financial report. "Our biggest barrier to growth was distribution," Xerox Chairman and Chief Executive Anne Mulcahy said on a morning conference call with analysts. Global Imaging sells printers and copiers to small and mid-size businesses, and it will start selling Xerox document-management products following the acquisition. Xerox, the world's largest provider of office printers, copiers and related services, said it would pay $29 for each share of Global Imaging, a premium of almost 50 percent to its Friday closing price of $19.50. The price is equivalent to 11 times Global Imaging's earnings before interest and tax (EBIT), according to one analyst. Global Imaging's own deals to buy smaller independent distributors were valued on average at five to eight times trailing 12 month adjusted EBIT, according to Global Imaging investor relations representative Earle Brown.

Global Imaging durch Xerox gekauft +29$ pro Aktie XEROX, GLOBAL IMAGING SYSTEMS Xerox a annoncé lundi l'acquisition de Global Imaging, un fournisseur de produits technologiques pour le bureau, pour quelque 1,5 milliard de dollars. Le numéro un mondial des photocopieurs professionnels propose 29 dollars par action, soit une prime de près de 50% par rapport au cours de clôture de Global Imaging vendredi (19,50 dollars) . En avant-Bourse, Global Imaging flambe de 46,2% à 28,50 dollars.