By acquiring Lucidiom, Noritsu will be positioned to deliver the most complete offering of proven photo imaging solutions and services for the retail industry.Part of Noritsu’s strategy to provide comprehensive digital imaging solutions, the acquisition of Lucidiom will enable Noritsu to develop a strong in-store and web-based presence for retail photo delivery and consumer-driven creative photo products and services. The combination of two industry leaders, Noritsu and Lucidiom will offer completely integrated photo solutions which can deliver maximum choice for consumers and more revenue-generating options for retailers at the point of sale or via the web.
"This acquisition is an important step forward in our vision to provide the retail industry a compelling single source photo solution," said Akihiko Kuwabara, president of Noritsu America Corporation.
"We are also broadening the retailer’s opportunities for new sources of revenue via the web."Commenting about the pending acquisition, Stephen Giordano, Sr., founder, chairman and CEO at Lucidiom Inc., said: "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. 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."
While post-acquisition plans are still being developed, Noritsu intends to retain Lucidiom’s workforce, including its senior management. It is expected that Lucidiom will continue to operate out of its Vienna, Virginia headquarters facility after the acquisition. The acquisition, which is expected to close in Q2 of calendar year 2009, is subject to final agreement on terms as well as customary closing conditions, including approval by the stockholders of Lucidiom Inc.