InnerWorkings, Inc. Broadens Geographic Presence with Acquisitions in Dallas and Minneapolis Markets
CHICAGO, Nov 12, 2007 (BUSINESS WIRE) -- InnerWorkings, Inc. (NASDAQ: INWK), a leading provider of managed print solutions to corporate clients in the United States, announced today that it has acquired two leading print procurement and service providers: Data Flow Media Systems, LP (DFMS) in suburban Dallas and Graphic Resource Group, Inc. outside of Minneapolis.
DFMS and Graphic Resource Group provide services which include the procurement and production management of printed and promotional products and related warehousing and fulfillment functions. Combined, DFMS and Graphic Resource Group have 10 sales representatives and generated revenue of approximately $14 million in 2006.
"We have been seeking to establish a strategic presence in Dallas and Minneapolis, which are important print markets with significant Fortune 1000 representation," said Steven E. Zuccarini, Chief Executive Officer at InnerWorkings. "We believe that DFMS and Graphic Resource Group are among the best-run print procurement and management firms in those markets, and we look forward to accelerating their growth and profitability through their use of the InnerWorkings platform."
"Applying InnerWorkings' technology and its business model to our operations will enhance our selling efforts and value propostion," said Rick Doss, founder of DFMS who will serve as the InnerWorkings general manager for the Dallas market.
Larry Witthus, co-founder of Graphic Resource Group, who along with co-founder Doug Kraay will oversee the Minneapolis market, stated, "We are excited about the value that this acquisition will yield for our customers, employees and suppliers and are thrilled to be part of the InnerWorkings family."
About InnerWorkings, Inc.
Chicago-based InnerWorkings, Inc. (NASDAQ: INWK) is a leading provider of managed print solutions to corporate clients in the United States. With proprietary technology, an extensive supplier network and domain expertise, the Company procures, manages and delivers printed products as part of a comprehensive outsourced enterprise solution. Based in Chicago with numerous other offices in the United States, InnerWorkings procures printed products for clients across a wide range of industries, such as advertising, consumer products, publishing and retail. For more information on InnerWorkings, visit: www.iwprint.com.
About Data Flow Media Systems, LP
Plano, TX-based Data Flow Media Systems, LP (DFMS) is a leading provider of print procurement and management services to the Dallas market. Founded in 1985, DFMS' broad offerings include printed and promotional products and related procurement, production, warehousing and fulfillment services. For more information on DFMS, visit: www.dfms.com.
About Graphic Resource Group, Inc.
Medina, MN-based Graphic Resource Group, Inc. is a leading provider of print procurement and management services to the Minneapolis market. Founded in 2001, Graphic Resource Group's broad offerings include printing, large format work and promotional products. For more information on Graphic Resource Group, visit: www.grg-inc.com.
Forward-Looking Statements
This release contains statements relating to future results. These statements are forward-looking statements under the federal securities laws. We can give no assurance that any future results discussed in these statements will be achieved. Any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. These statements are subject to a variety of risks and uncertainties that could cause our actual results to differ materially from the statements contained in this release. For a discussion of important factors that could affect our actual results, please refer to our SEC filings, including the "Risk Factors" section of the Form 10-K we filed with the SEC.
SOURCE: InnerWorkings, Inc.
InnerWorkings, Inc.
Mark Desky
(312) 604-5470
mdesky@iwprint.com
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