Ricoh acquires Axon Ivy AG to expand its digital process automation capabilities
Tokyo, February 02, 2022 - Ricoh Company, Ltd. announced the acquisition of Swiss-based Axon Ivy, which has more than two decades of experience in creating software platforms and solutions to help customers achieve their digital transformation goals.
Headquartered in Switzerland, Axon Ivy has offices in Austria, Germany and subsidiaries in the United States and Singapore. The company will continue to operate under its current name as a Ricoh group company and will retain all of its employees. In addition, it will continue to provide its customers and partners with the same high levels of service, with the added benefit that its customers will have immediate access to Ricoh's global reach and broad portfolio of digital services designed to deliver an efficient digital work experience that supports organizations to realize innovation, improved security and greater sustainability through technology.
"Ricoh Lift Off" is the global strategy that the company is driving for five years, from FY2021 to FY2025. This vision is focused on transformation to become a digital services company and thereby ensure sustainable growth, innovation and development. Through a global business structure change last April 2021, Ricoh integrated development, production and sales into each business unit, which has driven the organization to work more closely with customers and ensure continuous innovation to meet changing market needs, while facilitating business growth and improving return on capital.
"This acquisition is part of Ricoh's strategic investment in growing our Digital Services business. It enhances our capabilities to further support customers around the world with their digital transformation needs, and boosts our market position as a digital services company. Axon Ivy has a trusted reputation as a true digital enabler and is recognized by customers and industry analysts alike. We are delighted to welcome them to our family" commented Akira Oyama, Executive Corporate Director and President of Ricoh's Digital Services Business Unit.
"We are very excited about the opportunities this acquisition offers both Ricoh and our customers. From our own transformation journey as a global services organization with exceptional expertise in document process management, we recognize that many organizations still struggle with complex technology infrastructures and requirements for further automation beyond 'paper-to-digital'. We can see a growing demand for software that is not just limited to print or documents. This trend, coupled with our customers' ambitions to advance their digital transformation, makes this a particularly exciting time in the history of Axon Ivy and Ricoh" added David Mills, CEO of Ricoh Europe.
Rolf Gebhard Stephan, CEO of Axon Ivy AG, comments: "I see great value in being part of the global Ricoh family. We have built one of the most reliable and easy-to-use digital process automation platforms and have a very successful track record in Central Europe. While we will maintain our core strengths of technology and agility, we will benefit from the access Ricoh gives us to all major markets around the world. My team and I look forward to the prospect of Axon Ivy becoming a global leader in the digital automation ecosystem."
Ricoh plans to continue to expand the value it offers its customers by developing a broad portfolio of digital products and services, integration capabilities and a solid foundation for providing services on a global scale..
* VectorSpan Inc. acted as exclusive advisor to Axon Ivy in this transaction.
