Ricoh India bags Rs 400-cr printer business from Vakrangee

NEW DELHI: IT peripheral company Ricoh India today said that it has bagged the Rs 400-crore managed print services business from software firm Vakrangee Limited.

"Ricoh India Limited has signed a memorandum of understanding with Vakrangee Limited for inter alia providing state-of-the-art managed print services (MPS) to Vakrangee Limited," Ricoh India said in a regulatory filing.

According to IDC, Ricoh led copier based Laser MFP market, with a market share of 25.18 per cent in first half of 2015.

"The total worth of the contract is Rs 400 crore while the duration of the contract will be spread to five years," the company said.

Shares of Ricoh India closed 7.21 per cent up at Rs 896 apiece on the BSE today.