LSC Communications, Inc. announced that the U.S. Department of Justice (“DOJ”) filed a lawsuit in the United States District Court for the Northern District of Illinois to enjoin Quad’s proposed acquisition of LSC Communications. The companies believe that the DOJ has reached the wrong conclusion in its assessment of the transaction and LSC will join Quad in vigorously defending the lawsuit in court. Contrary to the DOJ’s position, the benefits and synergies to be realized from the proposed acquisition are pro-competitive and will benefit the companies’ clients for the following reasons: • There is significant excess capacity in the printing industry today and this transaction would improve efficiencies and lower printing costs; • Many printers have the capability to print the same jobs as LSC Communications or Quad and successfully compete with both companies on quality and price; • Barriers to expansion and entry in the printing business are low and printers can easily expand their production capacity through acquisitions or with modest capital expenditures on equipment and facilities that are readily available; and • The trend toward digital substitution increases competition and disincentives price increases. Click Read More below for additional information.
Deluxe Corporation (NYSE: DLX), a Trusted, Tech-Enabled Solutions Company™, announced the hiring of two new senior executives: Garry Capers in the role of General Manager, Cloud Solutions and Thomas Riccio as General Manager, Promotional Products. Both individuals join the company’s Executive Leadership Team, reporting to Barry McCarthy, President and Chief Executive Officer.
In April, McCarthy unveiled the company’s new strategic plan, which included a new approach to selling all products to all customers as “One Deluxe.” This new plan included a go-to-market strategy of identifying four key product areas: Payments, Cloud Solutions, Promotional Products and Checks. Deluxe conducted a national search to find world-class leaders for these newly created General Manager roles.
Capers brings a wealth of experience to Deluxe having held executive leadership roles with ADP and Equifax. At ADP, he led a business providing comprehensive outsourcing services that drove revenue, profitability and client satisfaction. A proven leader, Capers has led efforts for global technology companies and top-tier global manager consultancies, transforming and accelerating revenue growth. While at Equifax, he oversaw B2B marketing units that focused on marketing data services for corporations, small businesses and consumers. His efforts led to significant revenue growth and margin expansion.
“Bringing in a leader of Garry’s caliber sets our Cloud services apart from our competition,” McCarthy said. “He is an innovative, strategic leader who understands the tech and data space, and will drive our growth efforts in Cloud.”
Riccio comes to Deluxe from Office Depot, where he held various business and operations roles of increasing responsibility over the last 10 years. Most recently, he led the $1.7 billion Business Solutions Division, where he spearheaded transformative change from a product-based organization to B2B services platforms providing an omni-channel experience for customers designed to manage services and subscription-based solutions. He also led a $1 billion sales organization for Office Depot that focused on health care, public sector and small business buying groups.