Ricoh to Acquire mindSHIFT Technologies, a Leading Managed Services Provider for Small and Medium-Sized Businesses

Ricoh to Acquire mindSHIFT Technologies, a Leading Managed Services Provider 
for Small and Medium-Sized Businesses 
Purchase Complements Ricoh's Current Services Portfolio, Adding
Significant Skills and Reach to the Company's Growing Suite of
MALVERN, PA -- (Marketwired) -- 01/21/14 --  Ricoh today announced
that the company has reached an agreement to buy mindSHIFT
Technologies Inc., a leading provider of managed IT, cloud, data
center and professional services to small and mid-sized
organizations, from Best Buy Co., Inc. The acquisition is the latest
strategic investment by Ricoh to expand and deepen its services
mindSHIFT, a top Managed Services provider in the U.S. for small and
mid-sized businesses (SMB), works with more than 6,900 clients in
major markets throughout the country. The company's IT Services
capabilities and comprehensive Managed Services offerings will help
Ricoh continue to drive value to existing customers through expanded
services offerings as well as support Ricoh's growth as a provider of
IT Services.  
The addition of mindSHIFT's nationwide expertise and customer service
professionals will bring a wide array of benefits to the customers
Ricoh is currently serving through its proven services organization
of more than 8,000 specialists. 
"With the addition of these highly skilled engineering and
customer-facing resources to our existing services organization,
Ricoh can now offer a greatly enhanced range of services for its
customers," said Martin Brodigan, Chairman and Chief Executive
Officer, Ricoh Americas Corporation. "We are very much looking
forward to working with our small and medium-sized customers to
maximize these combined capabilities to their greatest benefit." 
"At mindSHIFT, we are proud to have the most comprehensive IT
Services portfolio for small and mid-sized business customers in the
industry and are excited to become a part of the Ricoh family. With
Ricoh's keen focus on business customers, their leadership position
in the small and mid-sized business space and our common philosophy
in delivering innovative ways to solve technology challenges, we
believe we can deliver even more value to customers together," said
Mona Abutaleb, President and Chief Executive Officer of mindSHIFT
Technologies. "We're excited about what this acquisition means to our
customers; the impact of having a well-respected brand like Ricoh
tied to our market leadership will bring great benefits to current
and new customers around the country." 
mindSHIFT brings their experience in the general business market, in
addition to legal, healthcare, financial services, associations and
non-profits, and education markets, areas complementary to Ricoh's
proven expertise and experience. 
mindSHIFT will continue to operate under its current name, management
team and capabilities, which currently include 650 employees at
offices in Boston, Chicago, Long Island, N.Y., Minneapolis,
Morrisville, N.C., New York City, Philadelphia, Washington, D.C., and
Austin, Houston, San Antonio, and Dallas, TX. 
The acquisition is expected to close in February 2014 at which time
mindSHIFT will become a wholly owned subsidiary of Ricoh. 
|About Ricoh| 
Ricoh is a global technology company specializing in office imaging
equipment, production print solutions, document management systems
and IT services. Headquartered in Tokyo, Ricoh Group operates in
about 200 countries and regions. In the financial year ending March
2013, Ricoh Group had worldwide sales of 1,924 billion yen (approx.
20 billion USD). 
The majority of the company's revenue comes from products, solutions
and services that improve the interaction between people and
information. Ricoh also produces award-winning digital cameras and
specialized industrial products. It is known for the quality of its
technology, the exceptional standard of its customer service and
sustainability initiatives. 
Under its corporate tagline, imagine. change. Ricoh helps companies
transform the way they work and harness the collective imagination of
their employees. 
For further information, please visit  
Copyright 2014 Ricoh Americas Corporation. All rights reserved. All
referenced product names 
 are the trademarks of their respective
Media Contacts: 
Tracey Sheehy
Breakaway Communications for Ricoh
(212) 616-6003 
Lisa Masiello
mindSHIFT Technologies
(617) 243-2757 
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