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For more information, please contact: FOR IMMEDIATE RELEASE
FOR MEDIA AND ANALYSTS:
Kimberly Pepper Libby Nolder
ImageX.com Cole & Weber
(425) 452-0011 ext. 235 (503) 548-3312
[email protected] [email protected]
FOR INVESTOR RELATIONS:
Barb Stuart
ImageX.com
(425) 452-0011 ext. 273
[email protected]
IMAGEX.COM ACQUIRES HOWARD PRESS
ACQUISITION WILL GROW AND EXPAND IMAGEX.COM'S PROFITABILITY,
CUSTOMER BASE AND SERVICES
BELLEVUE, WASH. - JUNE 15, 2000 - ImageX.com -Register Tradermark- Inc.
(NASDAQ: IMGX), the leading business-to-business Internet market maker for
printed business materials, today announced the signing of a definitive
agreement to acquire privately-held Howard Press, a full-service printing
company with $30 million in 1999 revenue, serving 42 Fortune 1000 companies.
The fifth acquisition in the last 15 months, this transaction solidifies
ImageX.com's leadership position in the e-commerce printing industry, adds
substantial blue chip customers and revenue, and supports the commitment to
accelerating positive cash flows.
"Howard Press will be accretive to ImageX.com's current financial
results and is expected to assist us in reaching profitability," said Rich
Begert, president and chief executive officer of ImageX.com. "As we have
consistently demonstrated, acquiring major corporate relationships, introducing
them to our technology and expanding the products and services offered to them
is a successful formula. Howard Press, with its substantial customer and revenue
base, supports this strategy."
Howard Press will become a wholly-owned subsidiary of ImageX.com and
will continue to operate from its Roselle, N.J. headquarters. Howard Press
president and chief executive officer Scott Porter will become chief operating
officer of the new subsidiary. The completion of the acquisition is subject to
customary closing conditions.
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IMAGEX.COM ACQUIRES HOWARD PRESS, PAGE 2
Howard Press' impressive customer base of Fortune 1000 companies such
as AT&T, Chase Manhattan Bank, Johnson & Johnson, Kraft Foods and Mercedes-Benz,
as well as its strong sales force are both cited as benefits of the acquisition.
Accordingly, 15 experienced sales professionals that have existing relationships
with corporate customers will become a part of the ImageX.com team.
CUSTOMERS REQUIRING ONLINE SOLUTIONS
"As the printing industry has progressed toward e-procurement, we
recognized the need to meet customer demands with a complete online solution,"
said Scott Porter, president and chief executive officer of Howard Press. "To
expand our offerings, we evaluated a variety of e-procurement providers and
determined ImageX.com's services were the most comprehensive and robust. As a
result of this acquisition, we will be able to provide the enhanced
functionality and system scalability that is vital to our customers."
"Howard Press has an unprecedented core of Fortune 1000
customers that want a sophisticated technology solution, which ImageX.com will
be able to provide," said Begert, ImageX.com. "Given the success we have
experienced in converting customers to ImageX.com's online e-procurement
solution from past acquisitions, we look forward to repeating this successful
track record with Howard Press customers."
ABOUT HOWARD PRESS
Headquartered in Roselle, N.J., Howard Press is a full-service printing
company providing Fortune 1000 companies with a broad range of printing,
publishing and warehousing services. The company serves more than 200 customers,
including AT&T, Bristol-Myers Squibb, Capital Cities/ABC, Chase Manhattan Bank,
Johnson & Johnson, Kraft Foods, Lucent Technologies, National Broadcasting
Company, Prudential, United Parcel Service and many more. Founded in 1970, the
business operates six facilities in New Jersey. More information is available at
www.howardpress.com.
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IMAGEX.COM ACQUIRES HOWARD PRESS, PAGE 3
ABOUT IMAGEX.COM
Founded in 1995 and based in Bellevue, Wash., ImageX.com is the leading
business-to-business Internet market maker for printed business materials.
ImageX.com caters to the unique needs of every type of printing customer --
individuals, small businesses, corporations, graphic arts professionals,
printing industry suppliers and manufacturers. From buying paper stock to
finding the right graphic professional to design materials, ImageX.com's
technology provides innovative services for each step in the process of printing
materials. The company has filed for 52 patents for its Web-based, just-in-time
print manufacturing technology, which facilitates the entire workflow process
from creative concept to delivery of the final product. ImageX.com's branded
service areas include the Corporate Online Printing Center, the Small Business
Printing Center, PrintBid.com, and PaperDeals.com, as well as PrintPlace.com, an
online vertical e-marketplace for the graphic arts community. ImageX.com was
ranked third among the world's best-managed, fastest-growing technology
companies by Forbes ASAP in its April 2000 cover story. Forbes noted the
company's sound management, finances, market opportunity and competitive
position. ImageX.com's customers include Automatic Data Processing (ADP), CB
Richard Ellis, CIBC World Markets, Donaldson, Lufkin & Jenrette (DLJ) and Merck
and Co. More information on the company, its services and its online marketplace
can be obtained from http://www.imagex.com or by calling (800) 959-7845.
# # #
REGISTERED TRADEMARKS AND SERVICE MARKS ARE THE PROPERTY OF THEIR
RESPECTIVE OWNERS.
This release contains forward-looking statements relating to the development of
the Company's products and services and future operating results, including
statements regarding the Company that are subject to certain risks and
uncertainties that could cause actual results to differ materially from those
projected. The words "believe," "expect," "intend," "anticipate," variations of
such words, and similar expressions identify forward-looking statements, but
their absence does not mean that the statement is not forward-looking. These
statements are not guarantees of future performance and are subject to certain
risks, uncertainties and assumptions that are difficult to predict. Factors that
could affect the Company's actual results include the progress and costs of the
development of our products and services and the timing of market acceptance of
those products and services. A more detailed description of certain factors that
could affect actual results include, but are not limited to, those discussed in
ImageX.com's 10K, Annual Report filed on March 22, 2000. Readers are cautioned
not to place undue reliance on these forward-looking statements, which speak
only as of the date of this release. ImageX.com undertakes no obligation to
update publicly any forward-looking statements to reflect new information,
events or circumstances after the date of this release or to reflect the
occurrence of unanticipated events.
