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Kyocera Mita India Pvt Ltd (KMIPL) on Tuesday announced the acquisition of the copier division of Kilburn Office Automation Ltd.
The company declined to disclose the size of the deal. KMIPL is a wholly owned subsidiary of the $12-billion Japanese Kyocera Group.
The annual turnover of the copier division of Kilburn Office Automation is Rs 32.4 crore. It has nearly 5 per cent market share in the Indian copier market.
Mr M. Higuchi, President, Kyocera Mita Asia Ltd, said, “Kyocera plans to triple the sales achieved last fiscal in 2012-13.” He also announced that the firm would absorb around 110 employees and more than 100 dealers of the copier division of Kilburn Office Automation. After the acquisition, it will have presence in 15 major cities in India. The entire acquisition will be financed through internal accruals, he added.
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