Anacomp finalizes acquisition of First Image Management Company

Only a few years ago it was taking its financial lumps. Now Anacomp is looking to rebound, and for starters has acquired three business units from First Data for $150 million in cash and subordinated notes. Anacomp will keep First Image Management Company's COM (Computer Output to Microfilm) services business, which complements Anacomp's own COM, CD, and Internet solutions offered through its service centers. The deal also includes First Image's Document Acquisition Services (DAS) business unit, which provides data entry and capture services, and its Document Print and Distribution Services (DPDS) business unit, which provides print-and-mail and demand publishing services. Anacomp is looking to sell these two business units to third parties.

The acquisition of First Image's COM business unit gives Anacomp a larger inventory of information management consulting services, analog and digital systems, and comprehensive maintenance and technical support. It also gives them penetration into 20 new markets across the U.S.

The deal allows Anacomp to "improve our service offerings, enhance the value of what we offer to customers, and increase our efforts to offer clients a migration path to newer technologies," said Anacomp president and CEO Ralph Koehrer. "The addition of First Image's COM services business significantly expands our presence in the marketplace."

"The completed divestiture of our imaging business sharpens management's focus on the company's single strategic objective-to help make electronic payments the payment method of choice worldwide," commented First Data CEO Ric Duques. "First Data has taken another key step which strengthens the company's position for continued leadership in our critical set of interrelated businesses."

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