CSG Limited was a publicly listed Australian owned business technology company. Founded in 1988, in 2007 it was listed on the Australian Securities Exchange. In 2020, it was taken over by Fuji Xerox and integrated into Fujifilm with the brand retired.
 | |
| Formerly | Connected Solutions Group |
|---|---|
| Company type | Public |
| ASX: CSV | |
| Industry | Printing |
| Founded | February 1999 |
| Defunct | December 2020 |
| Fate | Taken over by Fuji Xerox |
| Headquarters | , Australia |
Area served | Australia and New Zealand |
| Products | Print Solutions and Managed Print Services |
| Revenue | $218 million (2019) |
Number of employees | 600 (2019) |
| Divisions | Business Solutions, Finance Solutions, Enterprise Print Solutions |
| Website | www.csg.com.au |
History
editIn February 1999 as Connected Solutions Group was founded when a number of business in Darwin merged.[1]
In 2007 CSG listed on the Australian Securities Exchange and expanded into the IT Services market. A year later the company acquired the Commander Managed Services business in the Australian Capital Territory and won a Government of the Northern Territory contract to supply desktop and server management throughout the Territory. The business also expanded its print services business in regional Queensland.
CSG also acquired Change Corporation in 2007 and entered in the IT consulting and integration services market for AUS $20 million.[2][3]
Seeking to have a national footprint, CSG terminated its relationship with Fuji Xerox in favour of Canon but was subsequently required to give existing customers the option of remaining with CSG, or novating to Fuji Xerox [4] A year later, CSG acquired the exclusive distributorship of Konica Minolta Business Solutions in New Zealand as the majority shareholders as well as acquiring the largest dealership of Canon devices in Australia.
In October 2011, a takeover offer was received by the CSG board. Shortly thereafter, the company reported that other bidders had emerged.[5] However, in December CSG announced that it was withdrawing from the process.[6]
In July 2012, CSG sold the Technology Solutions business to NEC.[7][8] Subsequently, CSG undertook an extensive business restructure to stabilise the remaining print business and position it for future growth. CSG employed approximately 600 staff.
In October 2019, Fuji Xerox launched made a successful takeover offer for CSG.[9] In February 2020, CSG was delisted from the Australian Securities Exchange and integrated into Fujifilm with the brand retired in December 2020.[10][11][12]
References
edit- ^ About Us Connected Solutions Group
- ^ "CSG | Technology Transactions". tmt-transactions.com. Archived from the original on 18 May 2015. Retrieved 8 May 2015.
- ^ "CSG buys Change Corp for $20m-plus". 19 December 2007. Retrieved 8 May 2015.
- ^ "Fuji Xerox v CSG Limited [2010] NSWSC 1258". Supreme Court of New South Wales. 23 November 2010. Archived from the original on 28 November 2012.
- ^ IT firm CSG attracts $340m takeover bid Australian Financial Review 7 October 2011
- ^ Market Update CSG 21 December 2011
- ^ "NEC announces acquisition of Australian ICT company CSG Limited's Technology Solutions business | NEC". au.nec.com. Archived from the original on 20 May 2015. Retrieved 6 May 2015.
- ^ "NEC to buy CSG's services, consulting arm". Retrieved 6 May 2015.
- ^ Moelis and Deloitte in CSG Limited takeover Australian Financial Review 23 October 2019
- ^ CSG Limited - Removal from Official List Australian Securities Exchange 18 February 2020
- ^ Fuji Xerox completes CSG acquisition ZDNet 19 February 2020
- ^ Improving our service and support to CSG customers Fuji Xerox 18 December 2020