Canon, the leading manufacturer of photo inkjets and printer ink cartridges has made a strategic decision to acquire Europe’s biggest printer manufacturer, Oce NV. The acquisition is worth 730 million Euros in total, and is the biggest ever for Canon.

Canon is a leader in small home and office printers. While, Oce NV is a specialist in large format printers and professional printers, an area that Canon has lacked for sometime now. This take over will ensure that Canon will come out strong in all form of markets. A strategic take over indeed!

“Through the merger of Canon and Oce, we believe that we will be able to realize clear benefits, not only in the area of R&D, but also in terms of product mix and marketing, and are confident that this winning combination will contribute greatly to our goal of becoming the overall number one presence in the printing industry,” Canon chief operating officer Tsuneji Uchida said.

For Oce, there are some advantages as well. Outside Europe, it is not a well known brand. Canon can help Oce reach the unconquered parts of Europe, Americas and Asia.

Canon plans to begin the takeover agreed with the Dutch company between January and March with the aim of turning the company into a fully owned subsidiary.