It is interesting to me. Ricoh 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...