SOURCE: Noritsu

Noritsu

March 02, 2009 04:00 ET

Noritsu America Corporation to Acquire Lucidiom Inc., a Market Leader in Retail Photo Kiosks and Online Photo Services

Noritsu Extends Leadership in Retail Photo Industry; Acquisition Will Enable Noritsu and Lucidiom to Deliver Maximum Retail Revenue Opportunities Through Integrated Photo Solution

BUENA PARK, CA--(Marketwire - March 2, 2009) - Noritsu America Corporation, a global leader in digital imaging solutions, today announced that it has entered into an exclusive letter of intent to acquire Lucidiom Inc. a market leader in self-service retail photo kiosks and online services. 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 Mr. 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.

About Noritsu America Corporation

Noritsu is a leading global manufacturer of professional digital imaging equipment, and a leading global provider of high-quality photo printing solutions to retailers, photo studios and other print-intensive environments. With over 15,000 system installations in North America, and availability in over 180 countries worldwide, Noritsu has been at the forefront of innovation in the image processing industry for nearly six decades, introducing revolutionary technologies such as the world's first one-hour film developing and printing system. Noritsu continues to build its legacy with its advanced line of award-winning imaging hardware and software products and solutions that offer consumers greater quality and choice in preserving their memories, while delivering high performance, flexibility and profit-making potential to Noritsu customers. Noritsu has implemented a strategy to engineer environmentally friendly products and operations that include chemical-free processing and reduced power requirements.

For more information on Noritsu and its comprehensive line of products, visit www.noritsu.com or call (800) 521-3686.

About Lucidiom Inc.

With more than 55,000 APM photo kiosks deployed worldwide, Lucidiom Inc. is the leading provider of social expression imaging solutions. Lucidiom's flexible and brand-independent digital photofinishing system, known as Lucidiom EQ, enables retailers to develop in-store and online revenue streams beyond the standard 4x6 print and empowers consumers to express themselves through images. Lucidiom EQ runs on the APM Network and features the best business systems, software tools and equipment: the APM photo kiosk; scrapbooking and creative content; the EQ Printer; APM ProfitWatcher statistics tracker; Photo Finale Web portal and the Lab 50 management system. For more information about how Lucidiom drives social expression in the digital imaging world, visit www.lucidiom.com.

The information contained herein is subject to change without notice. Noritsu shall not be held liable for technical or editorial errors or omissions contained herein. All non-Noritsu brand names, product names, or trademarks herein belong to their respective holders.

Contact Information

  • Contacts:
    Cynthia Nowicki
    Noritsu America Corporation
    714-521-9040 x6331
    Email Contact

    Jenny Pareti
    Lucidiom Inc.
    703-564-3400 x182
    571-201-2816 (cell)
    Email Contact