CHIBA, Japan — Seiko Instruments Inc. (President: Hitoshi Murakami, Head Office: Chiba-shi, Chiba; hereinafter “SII”) today announced that SII and OKI Data Corporation (President: Takao Hiramoto, Head Office: Minato-ku, Tokyo; hereinafter “OKI Data”), the printer business company of OKI Electric Industry Co., Ltd. (President: Hideichi Kawasaki, Head Office: Minato-ku, Tokyo), signed a definitive agreement on July 8, 2015, to transfer the SII’s globally-deployed wide format printer business to OKI Data.
SII and OKI Data also signed a stock purchase agreement to transfer all shares of Seiko I Infotech Inc. (President: Satoshi Sakata, Head Office: Chiba-shi, Chiba; hereinafter “SIIT”), a subsidiary of SII that manufacture and sell wide format printers, held by SII to OKI Data. Furthermore, an asset purchase agreement was signed to transfer the wide format printer business and assets of SII group companies in Europe and the United States to OKI Data’s group companies in Europe and the United States. SII and OKI Data will complete the business transfer on October 1, 2015.
The sales and the services of wide format printers and other products with which SIIT currently provides customers will continue after the completion of the business transfer.
Corporate Communications Dept. Seiko Instruments Inc. firstname.lastname@example.org
The content of this news release is based on the information as of the release date. Please note that the content may not be always up-to-date.