Ricoh buys Lanier, voice line goes to Platinum

December 13, 2000

Ricoh and Lanier Worldwide have signed a definitive merger agreement, unanimously approved by Lanier's board, under which Ricoh will make a cash tender offer of $3 per share for all outstanding shares of Lanier common stock. However, Lanier's voice products are not directly part of the deal. The merger with Ricoh is subject to regulatory approval and contingent on the sale of Lanier's voice business to Platinum Equity Holdings, a privately held firm specializing in acquiring and operating high-tech firms. The new voice products company, to be known as Lanier Health Care, has approximately 500 employees. Lanier should complete the transfer of its voice business within 30 days. Platinum projects sales in excess of $120 million for the 2001 fiscal year for Lanier Health Care.