GENICOM BUYS PRINTER BUSINESS
By Adnews Staff
GENICOM Corp. of Washington, D.C. has bought the worldwide printer business of Texas Instruments of Dallas. Under the agreement, GENICOM attains design rights, product intellectual property rights, vendor and customer contracts, production equipment and working capital, including inventory. GENICOM president and CEO Paul Winn expects the acquisition will allow his company's printer-related revenue stream to grow by 66%, to about $250 million (U.S.). According to GENICOM's marketing director Doug Scott told Adnews yesterday the company plans to keep the Texas brand name on the products to ensure customers recognize them. In Canada, advertising for the printer products will be handled in-house by GENICOM.
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