Acquisition broadens Standard Register’s
information solutions offering and technology platform through the addition of leading
extended relationship management and document automation solutions
DAYTON, Ohio, and TORONTO, Canada (July 3,
2002) — Standard Register (NYSE:SR), a leading information solutions provider, today
announced that it has completed its $89-million acquisition of InSystems Technologies,
Inc., a leading provider of e-business solutions for financial services organizations.
“This acquisition is an important step in implementing
our strategy of being a strategic thought partner to customers in improving business
results by leveraging information. With InSystems’ outstanding team, technology and
customer relationships combined with ours, we have the advanced solutions, technologies
and talent to help companies improve processes and organize, manage and distribute
information in both paper and digital infrastructures,” said Dennis L. Rediker,
president and chief executive officer of Standard Register.
InSystems Calligo™ integrated document-automation
software helps organizations create, manage and distribute highly personalized, error-free
documents. It also automates important business processes including compliance filings,
document fulfillment and customer service. InSystems eXterity™ extended
relationship management (XRM) software enables organizations to interact seamlessly via
the Internet with their entire value network, including customers, suppliers, partners,
regulators, and other constituents. Standard Register’s technology offerings include
SMARTworks e-business solutions that connect buyers and suppliers of business printing and
also provide management tools that significantly reduce companies’ costs associated
with designing, procuring, distributing, and managing printed and electronic documents.
These innovative technology products are part of Standard Register’s complete
solution that includes workflow and document security consulting; paper and electronic
document design and output; digital print on demand and other print solutions; fulfillment
services; and document-processing and automatic identification systems
Industry analysts said the following in response to the acquisition:
“Businesses today are concerned about distributing
content that is timely and relevant, via both paper-based and electronic media. With this
acquisition, Standard Register is further positioning itself as a full-service strategic
partner, ready to help customers leverage multiple technologies for effective content
delivery,” said Holly Muscolino, director, Production Workflow Solutions Service, CAP Ventures.
“Standard Register’s acquisition of InSystems has the
potential to help fulfill a growing need in the insurance and financial services industry:
to marry traditional document creation/management needs (i.e. marketing, compliance) with
new value delivery chain processes, enabling collaborative management of marketing and
fulfillment needs among product manufacturers, wholesalers, brokers, agents and other
intermediaries,” said Chuck Johnston, vice president and director, Insurance
Information Strategies, META Group, Inc.
The acquisition helps Standard Register address broader
industry trends, including the convergence of insurance, banking and other financial
services, and an increased emphasis on security
“Insurance and financial services providers are facing
many industry challenges such as convergence, shifting consumer expectations and increased
competition. To combat these challenges, providers will increasingly require solutions
that support both relationship management and the ability to centralize content across the
enterprise, which will enable organizations to achieve greater channel management,”
stated Kimberly Harris, research director, Gartner Research. “While reducing the
integration requirements, such solutions would help mitigate the risks that insurance and
financial services providers face and better prepare them to succeed in the market.”
“Document management is a critical corporate
competency–both in managing enterprise access to key information sources and protecting
shareholder value through reducing the business risk of losing valuable information during
a catastrophe, security breach or other unplanned incident. With this acquisition,
Standard Register has the ability to help companies bring together paper-based and digital
document assets under a single management framework, helping to solve a problem with which
companies in many industries, including insurance, continue to struggle,” said Judy
Johnson, vice president, Insurance Information Strategies, META Group, Inc.
InSystems will operate as a subsidiary of Standard Register.
About InSystems
InSystems, www.insystems.com,
is a leading provider of document automation
solutions and the premier provider of insurance portal software for managing extended
relationships. InSystems provides its market-leading document automation and extended
relationship management solutions to Fortune 1000 companies. It has among its customers
more than 350 financial services companies in 24 countries including more than 50 of the
100 leading insurance enterprises in North America. By using InSystems e-business
software, financial services organizations deliver web-based personalized sales, document
fulfillment and service capabilities across all of their relationships (extended
relationship management), boosting efficiency, decreasing costs, improving service and
increasing revenues. Founded in 1989 and based in Toronto, Canada, InSystems has annual
revenues of approximately $24 million (U.S.) and employs about 230 people, primarily in technology roles.
About Standard Register
Standard Register (NYSE:SR) is a leading provider of
information solutions for financial services, healthcare, manufacturing and other markets.
Its offerings include secure documents and label solutions; fulfillment and consulting
services; and e-business solutions. As a strategic partner in migrating companies from
paper-based to digital processes, Standard Register helps businesses reduce costs and
increase revenue. Founded in 1912, the Fortune 1000 company today employs about 6,000
people throughout the United States and serves companies in more than 40 countries through
a network of international associate companies. Standard Register’s annual revenues
exceed $1 billion. More information is available at
www.standardregister.com.
Safe Harbor Statement
This release includes forward-looking statements covered by
the Private Securities Litigation Reform Act of 1995. Because such statements deal with
future events, they are subject to various risks and uncertainties and actual results for
fiscal year 2002 and beyond could differ materially from the Company’s current
expectations. Forward-looking statements are identified by words such as
“anticipates,” “projects,” “expects,” “plans,”
“intends,” “believes,” “estimates,” “targets,” and
other similar expressions that indicate trends and future events. Factors that could cause
the Company’s results to differ materially from those expressed in forward-looking
statements include, without limitation, variation in demand and acceptance of the
Company’s products and services, the frequency, magnitude and timing of paper and
other raw-material-price changes, general business and economic conditions beyond the
Company’s control, timing of the completion and integration of acquisitions, the
consequences of competitive factors in the marketplace, cost-containment strategies, and
the Company’s success in attracting and retaining key personnel. Additional
information concerning factors that could cause actual results to differ materially from
those projected is contained in the Company’s filing with The Securities and Exchange
Commission, including its report on Form 10-K for the year ended December 30, 2001. The
Company undertakes no obligation to revise or update forward-looking statements as a
result of new information since these statements may no longer be accurate or timely.
