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Photo printing equipment vendor snaps up online photo services company
Digital imaging equipment provider Noritsu America will buy photo kiosk and online photo services company Lucidiom. Noritsu says the deal will allow it to offer a more extensive line of photo services to retailers.
Managing Editor, International Research
Digital imaging equipment provider Noritsu America Corp. has announced plans to buy photo kiosk and online photo services company Lucidiom Inc. Noritsu says the deal will allow it to offer a more extensive line of photo services to retailers. Terms of the deal were not announced.
With the acquisition, Noritsu will be able to offer store-based and online retailers photo delivery and development as well as creative photo products and services.
"This acquisition is an important step forward in our vision to provide the retail industry a compelling single-source photo solution," says Akihiko Kuwabara, president of Noritsu America Corp.. "We are also broadening the retailer`s opportunities for new sources of revenue via the web."
Noritsu plans to keep Lucidiom`s employees, including its senior management. Lucidiom is expected to continue to operate out of its Vienna,VA, headquarters. The acquisition, which is expected to close in the second quarter, is subject to final agreement and approval of Lucidiom stockholders.
"Our focus since the beginning has been to empower the creativity of the consumer through the finest quality photo kiosk and web experience, while at the same time maximizing the return for the retailer,” says Stephen Giordano, founder, chairman and CEO for Lucidiom. “Now, we will have the opportunity to work closely with Noritsu`s large retail customer base, providing truly innovative and creative photo products and services that will drive revenue growth and build consumer loyalty. We`re delighted to be leading the industry`s social expression revolution."
Noritsu has installed 15,000 photo-printing systems in North America, and its services are available in more than 180 countries. The company says it created the first one-hour photo developing and printing system.
Lucidiom has more than 55,000 photo kiosks deployed worldwide. Its photo-finishing system allows online and bricks-and-mortar retailers to offer customized and creative photo printing options to consumers.