Canon Australia snaps up NZ's Converga for fourth buy in four years

Canon Australia has snapped up New Zealand Post's managed services and digital process outsourcing company, Converga, for an undisclosed sum as the company continues its aggressive plan for growth through diversification.

The deal is the biggest in Canon Oceania's history, outstripping last year's purchase of a majority stake in IT services provider Harbour IT, and is the fourth acquistion by Canon in four years, with the company also having snapped up Sun Studios and Océ Australia.

Canon says the latest deal provides it with the ability to drive further growth by delivering value-based solutions to the market, strenthening its end-to-end managed services and business process outsourcing capability.

Converga, which specialises in business process outsourcing with a focus on digital document solutions, will remain a stand-alone business, with the same management team and structure.

The company has 1300 staff based in customer locations across New Zealand, Australia, the United States and the Philippines.

Yusuke Mizoguchi, Canon Oceania managing director, says Canon plans to invest in, and grow, Converga.

"The acquisition of Converga, enables us to expand our capability in managed service and business process outsourcing, strengthening our offering to customers," Mizoguchi says.

Brian Roche, New Zealand Post Group chief executive, says for staff, customers and suppliers, it remains 'business as usual', with a smooth transition to the new full ownership expected.

Canon says the acquisition - and the previous ones - shows that growth through diversification is firmly on the agenda for the company.