Xerox ties up Veenman acquisition

Xerox has paid €43m for Dutch distributor Veenman

Xerox has completed its €43m cash acquisition of Dutch distribution firm Veenman.

The acquisition pairs Xerox's portfolio of document products and services with Veenman's distribution capacity in the Dutch small and medium sized business market.

Xerox said that the move will more than double its salesforce and offer access to more than 4,000 SMB customers in The Netherlands.

Veenman has six office locations that sell and service document management systems such as printers, copiers and multifunction devices.

Over the next few months, Veenman will begin to offer a broad range of Xerox products and supplies, including Phaser and WorkCentre printers and multifunction systems.

"We are seeing a lot of acquisitions and channel consolidation in the office imaging market," said Matt Marshall, research director at analyst firm IDC.

"We have seen Xerox accelerate its expansion strategy in the global SMB market, and its growing capacity in the SMB space since acquiring Global Imaging Systems in the US."

Veenman is Xerox's fifth acquisition in two years. The company has invested over $1.8bn in companies that broaden its distribution and expand its document-related services and software portfolio.