August 27, 2008
Dear Valued Customer:
As you may have heard, IKON today announced that we agreed to be acquired by Ricoh Company, Ltd, subject to the satisfaction of certain customary closing conditions. A copy of the press release issued this morning is attached for your information. Ricoh has been one of our valued equipment partners for many years and we will now be joining forces with them to create a stronger global office solutions competitor.
As you know, Ricoh is a leading manufacturer of high quality multifunction products, printers, fax machines and related supplies, with a long history and global reputation for providing innovative, reliable and user-friendly equipment.
An important factor we considered when deciding to take this step was our mission to best meet the needs of our customers. We concluded that we would be better able to achieve this goal as part of a larger organization that was able to offer an enhanced range of end-to-end office solutions, including IKON’s expertise in color equipment sales and world-class service offerings, as well as Ricoh’s world-leading portfolio of office solutions equipment.
I want to assure you that we remain committed to you and your company, and have every intention of continuing to provide you with world-class service and support, regardless of the equipment you use. We fully expect that our suppliers will continue to do business with us on the same terms and conditions they have in the past and we will continue to provide you with the best solutions from our broad portfolio of product and service offerings.
While we are very excited about today’s news, it is important for you to know that it will take several months to complete this transaction. In the meantime, it will be business as usual for us. We anticipate that the transaction will close before the end of calendar year 2008.
I recognize that you may have questions regarding this announcement and your sales professional will be contacting you in the coming days to help answer any questions you may have. I want to thank you for your continued commitment to IKON and look forward to building on our relationship in the future.
Sincerely,
Matthew J. Espe
Chairman and Chief Executive Officer
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