SmartPrint, an HP Inc. partner, has purchased Quebec-based managed print services (MPS) provider DynaCharge Laser for an undisclosed sum.
DynaCharge will operate as a wholly owned subsidiary of SmartPrint, and its customers now can leverage SmartPrint's MPS expertise, Tier 1 equipment portfolio partners and software solutions, the companies say.
In addition, the DynaCharge acquisition may help SmartPrint extend its Quebec footprint.
"The impetus for the acquisition was really the requirement for more SmartPrint technical services capabilities in the Montreal and Quebec region. The DynaCharge organization was a very good fit," Rob Farrell, SmartPrint's V of sales and marketing, told ChannelE2E. "We will also be investing deeper in sales and marketing to grow our footprint in the region."
GIS Acquires Two MPS Providers
Mergers and acquisitions across the MPS market continue at a healthy rate. In fact, Xerox company Global Imaging Systems (GIS) was a key proponent behind two recent moves.
GIS last month acquired multi-brand equipment dealer Laser Resources and purchased document technology company ASI Business Solutions in October.
It may be only a matter of time before GIS completes additional MPS acquisitions too.
GIS features a full-time staff committed to analyzing potential acquisition targets. Meanwhile, the projected growth of the global MPS market may make companies in this sector popular acquisition targets for GIS, SmartPrint and many others.
A Closer Look at the Global MPS Market
Transparency Market Research has projected the global MPS market will expand at a compound annual growth rate (CAGR) of 14.8 percent between 2016 and 2024. The market research firm also has predicted the MPS sector will be worth nearly $95 billion by 2024.
Many factors may drive the push for MPS over the next few years, including:
- Cost Savings: Many organizations are searching for ways to reduce the operational costs associated with printing activities.
- Time Savings: MPS may help organizations streamline printing workflows.
- Environmental Benefits: With MPS, organizations can limit paper waste and reduce their carbon footprint.
Moreover, rising interest in MPS from small and medium-sized enterprises (SMEs) may accelerate the MPS market's growth, according to Transparency.
"Growth in awareness about the benefits of MPS in the SMEs is expected to further boost the growth of the MPS market in the coming years. The SMEs segment of the MPS market is projected to grow faster than large enterprises in terms of the adoption of MPS," Transparency noted in a prepared statement.
