Fuji Xerox to buy Australia’s CSG for access to 10,000 new prospective clients
SYDNEY, NNA – Japanese photo copier maker Fuji Xerox Co. is set to buy a 100 percent stake in Australia’s printing services provider CSG Ltd., reflecting ambitions to capture small and medium-sized business clients in Oceania.
Fuji Xerox Asia Pte. Ltd., a Singapore-based subsidiary, has proposed 141 million Australian dollars ($96 million) in cash to acquire the Melbourne-based company, a spokeswoman in Tokyo told NNA Thursday.
“We can expect to expand our profits through the acquisition as CSG has strength in services for small and medium enterprises in Australia and New Zealand,” the spokeswoman said.
Fuji Xerox said it intends to expand sales of its products and IT services after the buyout.
The share purchase is subject to approval by CSG’s board, an Australian federal court and regulatory authorities, the Tokyo-based firm said in a statement. The firm expects the acquisition to be complete in February.
About 90 percent of companies in Australia and New Zealand are small or medium sized. CSG has some 10,000 clients and 27 bases with 670 workers, Fuji Xerox said.
CSG logged sales revenue of A$225.7 million in the business year to June 2018, according to its financial statement.