This is technology M&A deal number 738 that ChannelE2E has covered so far in 2022.
DEX Imaging, founded in 2002, is based in Tampa, Florida. The company has 911 employees listed on LinkedIn. DEX’s areas of expertise include document imaging equipment, workflow processes, data archiving, and data disaster recovery.
Gulf Business Systems, founded in 1972, is based in Sarasota, Florida. The company has seven employees listed on LinkedIn. GBS’s areas of expertise include MFPs, Copiers, Printers, Scanners, Wide-Format Printers, Business Apps, and industry-specific solutions.
GBS was acquired by its current president and owner Martin Hyde in 1997. The company’s staff will join DEX Imaging, the buyer said.
DEX Imaging Acquires Gulf Business Systems: Leadership Insight
In a prepared statement about the deal, Martin Hyde, president and owner, GBS, commented:
“We are pleased to join forces with a company that shares our same value proposition for quality. DEX Imaging’s track record of innovation and service excellence is one of the many reasons why we chose DEX for this transaction. We have worked hard for over five decades to build a legacy of quality, and now with DEX at the helm, we will be able to continue that legacy well into the future.”
Dan Doyle Jr, CEO, Dex Imaging, added:
“The acquisition of GBS delivers a seamless expansion for us in Sarasota, where we have had a strong market presence since 2005. GBS customers will now not only reap the benefits provided by DEX Imaging’s talented service teams, but will also have the advantage of choosing from a wider variety of best-in-class products and software solutions.”
About DEX Imaging
DEX Imaging was actually acquired by Staples in February 2019 for an undisclosed amount.
The company’s president and CEO, Dan Doyle Jr. and chairman Dan Doyle Sr. stayed on board to continue leading the business along with its existing executive team. DEX sells printers, copiers, and scanners, as well as document software.