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Japan's Ricoh agrees to purchase American IT firm mindSHIFT from Best Buy

(Credit: Reuters) A man walks in front of the headquarters of Ricoh Co in Tokyo.Ricoh
January 22
5:43 AM 2014

Ricoh announced today that it has agreed to purchase mindSHIFT Technologies Inc from Best Buy Co Inc. mindSHIFT is a company that provides managed IT, data center, cloud, and professional services to small and medium-sized businesses (SMBs), according to What They Think.

mindSHIFT caters to SMBs in the US and has over 6,900 clients throughout the country, the report added.

Martin Brodigan, Chairman of Ricoh Americas Corporation, said of the acquisition: "With the addition of these highly skilled engineering and customer-facing resources to our existing services organization, Ricoh can now offer a greatly enhanced range of services for its customers. We are very much looking forward to working with our small and medium-sized customers to maximize these combined capabilities to their greatest benefit."

Under the terms of the deal, mindSHIFT will still operate under the same name, management, and workforce. The firm presently employs 650 workers across the US, the report stated.

The transaction is expected to be completed in February. After that, minDSHIFT will become Ricoh's wholly owned subsidiary, What They Think reported.

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