My Favorite Memory of IKON

I used to be employed by IKON Office Solutions. Today, both companies announced that IKON will be purchased by Ricoh. You can see Ricoh's release here and IKON's release here.

It is interesting to me. ikon office solutionsRicoh buys IKON for $1.6 Billion or $17.25 per share. A little over a year ago Xerox bought Global Imaging for $1.5 Billion or $29 per share.

Why the big difference? Well, Global Imaging positioned itself for a sale for a long time, as such, it worked on being profitable by growth.

IKON Office Solutions seemed to have a different approach. When I worked for IKON a number of years ago, I remember year after year was the concern that sales weren't where they needed to be.

They still needed to be profitable, so the only other option was to cut. I remember thinking every year, "Oh, boy, here we go again... cutting our way to prosperity." continue reading...

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