Lason Acquires API Systems
In a move to strengthen its position in the financial and commercial markets, Lason (Troy, MI) has acquired API Systems (New York) for an undisclosed amount of cash and Lason shares. API is a $25 million provider of business communication services, including data management and digital printing, to the financial and commercial industries. With this deal, Lason will add approximately 200 customers to its books, mostly large commercial banks, investment banks, and insurance companies. The deal also gives Lason "a significant output processing presence" in the New York metro area, said Lason president and CEO Gary Monroe. "This is another important step in establishing integrated, large-scale operations in key locations throughout the U.S."