September 3, 2021

Today, Apex Supply Chain Technologies entered into a definitive agreement with which to sell the assets of its Apex UK Ltd operating subsidiary to Ricoh EU for an undisclosed amount. Included in the asset sale along with traditional assets such as inventory and service parts is a perpetual license to the proprietary Apex Trajectory software providing Ricoh EU and its operating subsidiaries, the ability to continue hosting and service to all existing legacy Apex UK / EU customers as well as new customers going forward.

As a result of this transaction:

  • Ricoh will assume all partner and end customer software support and device service provision for existing and new machine deployments, including on-going invoicing for software access post transaction date.
  • Ricoh will also act as the exclusive service provider for all existing partners and customers operating in greater Europe today utilizing the Apex Trajectory software platform.
  • Ricoh will assume all existing channel partner relationships in place for new machine orders and software launch support in their licensed version of Apex Trajectory within the European markets.
  • Apex Supply Chain Technologies will continue to operate in North America serving its existing set of customers and partners.
  • Apex has also entered into a software and technical support agreement with Ricoh to assist in any technical issues that may surface during the period of transition as it takes place.
  • Ricoh will inherit all existing contracts including pricing and terms as they are transferrable. Where they are not or have expired, Ricoh will diligently work to get current agreements in place shortly.

We are clearly excited about the prospects of Ricoh Europe incorporating the Apex Europe community of partners and customers into their vast scale of global operational reach. I wish you all success in this next phase as we are committed to make this transition a successful passage.

Regards,
Michael Wills
Chief Executive Officer
Apex Supply Chain Technologies