Japanese Digital imaging firm Canon on Monday said it will integrate sales and distribution network of Dutch-based Oce, which it had acquired in 2009, in India and is eyeing a revenue of Rs 100 crore this year from its professional printing business.
Canon had acquired Netherlands-based Oce in 2009 for about $1.1 billion. The company currently holds 90 per cent stake in Oce. It operates in India through wholly-owned subsidiary, Canon India.
The Tokyo-based firm said the integration will expand its product portfolio and help enter into new segments, which includes book publishing, transactional printing like phone and credit card bills.
"Canon has grown exponentially in the year 2010," said Kensaku Konishi, President & CEO, Canon India. "This move enhances our strategy and positions us to become technology leaders, offering greater value products and services to customers and partners of both our companies."
Canon registered 50 per cent growth in the year 2010 with revenues of Rs 1,260 crore and is expected to generate revenues of 1 billion US$ by 2015.
Going forward, Canon India will be handling the Océ business portfolio and will be the single interface across a range of products targeting multiple segments including offset printing, transaction printing, bill printing, signage printing, photo arts printing, CAD and GIS printing. Currently, Canon has 19 products in its professional printing portfolio and together with Océ the portfolio will increase to 70 product offerings.