Noritsu America Corporation Completes Lucidiom Inc. Acquisition
BUENA PARK, Calif.–(BUSINESS WIRE)–Noritsu America Corporation, an industry leader in creating retail photo solutions for everlasting memories, has completed the acquisition of Vienna, Virginia based Lucidiom Inc. The relationship offers photo services retailers of all sizes a complete imaging solution that creates new revenue streams for photo department growth and profitability in the rapidly expanding social expression age.
“Retailers looking for ways to enhance the profit opportunities from their photo services department now have an integrated and scalable photo solution for the consumer driven digital age,” said Mr. Steven L’Heureux, Chief Operating Officer of Noritsu America Corporation. “What we are offering retailers is the opportunity to combine the resources of our superior digital imaging equipment, already deployed in more than 50 percent of the nation’s leading retailers, with Lucidiom’s creative APM (automated photo machine) kiosks and versatile web-based solutions.”
L’Heureux explained that with Lucidiom’s established network of more than 55,000 APM kiosks and Noritsu’s market leadership in printing solutions, the companies together will provide retailers a proven and highly integrated photo solution that can generate new revenue streams and improved gross margins in their photo departments.
This acquisition comes at a time when the photofinishing and photo services industry is transitioning away from the standard print business and embracing a consumer-driven social expression era that includes the creation of more photo merchandise products. According to the “Photo Merchandise Products for the U.S. Market: Adding Value to Consumer-Generated Content” report from InfoTrends that was presented at the Digital Imaging Conference in September, 2009, the market for photo merchandise, specifically cards, calendars, books, and specialty photo prints, is set to grow from a $682 million market in 2007 to over $1.2 billion by the end of 2009, an annual growth rate of 34%. The photo merchandise category is expected to deliver impressive growth rates well beyond next year, as it is forecasted to grow to over $2.5 billion in revenue by 2013, a compound annual growth rate (CAGR) of 22%.
Lucidiom CEO and Chairman Stephen Giordano, Sr., said, “Consumers have increasingly come to expect photos to be a way of accenting their storytelling. We believe that to succeed in this new environment, retailers must offer services that allow those consumers to act as creator, publisher and distributor. They want to have the ability at home, at the office or in the store to share what they’ve created in new ways beyond the standard 4×6 print. For the retailer, that means new revenue opportunities, including hundreds of personal publishing and photo gifts. Noritsu and Lucidiom have the equipment and services to help photo services providers of all sizes succeed.”
About Noritsu America Corporation
Noritsu is a leading global manufacturer of professional digital imaging equipment, and a leading global provider of high-quality photo printing solutions to retailers, photo studios and other print-intensive environments. With over 15,000 system installations in North America, and 58,000 installations worldwide in over 180 countries, Noritsu has been at the forefront of innovation in the image processing industry for nearly six decades, introducing revolutionary technologies such as the world’s first one-hour film developing and printing system. Noritsu continues to build its legacy with its advanced line of award-winning imaging hardware and software products and solutions that offer consumers greater quality and choice in preserving their memories, while delivering high performance, flexibility and profit-making potential to Noritsu customers. Noritsu has implemented a strategy to engineer environmentally friendly products and operations that include chemical-free processing and reduced power requirements. For more information on Noritsu and its comprehensive line of products, visit www.noritsu.com or call (800) 521-3686.
About Lucidiom Inc.
With more than 55,000 APM photo kiosks deployed worldwide, Lucidiom Inc. is the leading provider of social expression imaging solutions. Lucidiom’s flexible and brand-independent digital photofinishing system, known as Lucidiom EQ, enables retailers to develop in-store and online revenue streams beyond the standard 4×6 print and empowers consumers to express themselves through images. Lucidiom EQ runs on the APM Network and features the best business systems, software tools and equipment: the APM photo kiosk; scrapbooking and creative content; the EQ Printer; APM ProfitWatcher statistics tracker; Photo Finale Web portal and the Lab 50 management system. For more information about how Lucidiom drives social expression in the digital imaging world, visit www.lucidiom.com.
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