TOSHIBA AMERICA BUSINESS SOLUTIONS REINFORCES STRATEGIC GROWTH PLAN WITH ACQUISITION OF MOODY BUSINESS ASSOCIATES
Leading San Francisco Bay Area Office Equipment Dealer To Strengthen Toshiba's TOPAC Network
IRVINE , California ( Jul 31, 2003 ) :
Toshiba America Business Solutions (TABS) today announced that it has acquired Moody Business Associates (MBA) of Hayward, Calif., a leading independent office equipment dealer serving the San Francisco Bay Area market with five locations.
MBA, which at the time of the acquisition did not sell Toshiba products and services, will become part of Toshiba's TOPAC division, a network of acquired Toshiba equipment dealers. In business for more than seven years, MBA is the 17th acquisition by TABS since TOPAC was formed nine years ago. Former MBA owner and president, Douglas Moody, will remain with the company continuing his role as president to oversee the company's business course, marketing and day-to-day operations.
The acquisition of MBA of California marks Toshiba's sixth acquisition since creating its business expansion plan, as part of its overall objective to bolster the TOPAC operation by targeting large independent dealers in the top U.S. markets. TABS also recently acquired Hotz Business Solutions, Inc. (HBS) of Kansas City, Mo. and Office Communications Systems (OCS) of San Antonio, Texas.
"TABS has been in the unique position to have the financial and business resources to execute its strategic growth initiatives without compromise, despite one of the worst economic downturns in a decade," said Rick Taylor, senior vice president, Sales, Marketing, Business Operations, TABS. "We will continue to forge solid partnerships with leading companies like MBA to drive the continued success of TOPAC and further strengthen TABS' market leadership position. MBA has achieved extraordinary growth within its local area through outstanding customer service and industry knowledge. We're pleased to be associated with a company of this caliber."
"With the sophistication required to properly support the networking of our equipment, along with the consolidation of our industry, we felt it was important to align ourselves with a corporation that could provide the expertise and commitment to enable MBA to achieve its projected growth objectives," said Doug Moody, owner and president, MBA of California. "We saw no other choice than Toshiba as that partner."
About MBA
Established in 1996, MBA of California specializes in the sales, service and networking of copiers, printers and facsimile products associated with document solutions. Headquartered in Hayward, Calif., with branches in the cities of Emeryville, Foster City, Palo Alto and San Francisco, MBA has quickly become the San Francisco Bay Area's largest independent dealer and was also one of Kyocera Mita's largest dealers in the nation.
About Toshiba America Business Solutions
Toshiba America Business Solutions, Inc. (TABS) manages product planning, marketing, sales, service support and distribution of copiers, facsimiles, multifunction printing products, network controllers and toner products throughout the United States, Latin America and the Caribbean. Headquartered in Irvine, Calif., TABS comprises four divisions: the Electronic Imaging Division, Toner Products Division, Document Solutions Engineering Division and TOPAC, a subsidiary which operates a network of office equipment dealers.
Named the most favored manufacturer in seven of the past eight years by the Business Technology Association (BTA), Toshiba's entire product line, customer support and marketing distribution policies are a marker for the industry. Among the many other awards garnered in recent years, Toshiba was named the "Copier Manufacturer of the Year" by the Marketing Research Consultants (MRC) in 1997, 1998, 2001 and 2002 and received the CIO Web Business award for its leading edge intranet site in 1998, 1999 and 2000.
TABS is an independent operating company of Toshiba Corp., the fifth largest electronics/electrical equipment company and the world's 77th largest company in terms of sales. Toshiba Corporation is a world leader in high technology products with more than 300 major subsidiaries and affiliates worldwide. Fiscal year revenue in 2002 was approximately $47 billion.
For more information on Toshiba copier, facsimile and printer products, or for a local dealer, call 1 800 GO TOSHIBA or visit the TABS Web site at www.copiers.toshiba.com.