Canon cuts big printer deal with Darwin-based CSG
CANON Australia expects a billion-dollar yield after a deal with a Darwin-based integrator CSG.
CANON Australia has totted a billion-dollar yield after letting its multi-function printer dealership to Darwin-based integrator CSG.
CSG has agreed to pay $10 million for licenses to sell the devices from dealerships in national capitals and for sub-contracting rights over an existing portfolio of 10,500 multi-function devices.
Canon Australia senior general manager Craig Manson said that the company's calculations confirmed the billion yield expectations but declined to reveal the longevity of the contract.
"This is a big move for us," Mr Manson said.
CSG yesterday announced that it would raise $40m through an institutional share placement to fund the deal and its recent acquisitions of Leasing Solutions Limited and Aaromba Technologies Limited for $20m and $2m respectively.
It's first payment to Canon of $6m is July 1.
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