ARC's Board of Directors Approves Share Repurchase Program

Note found on StreetInsider.com

February 8, 2016 4:27 PM EST

ARC Document Solutions, Inc. (NYSE: ARC) today announced that its Board of Directors approved a share repurchase program that authorizes the company to purchase up to $15 million of the company's outstanding common stock through December 31, 2017.

"The share repurchase program reflects management's confidence in the business and the future of our new offerings," said K. "Suri" Suriyakumar, Chairman, President and CEO of ARC Document Solutions. "The current disconnect between ARC's share price and its fundamental value has created an excellent opportunity to create significant long-term benefits for the company and its shareholders by buying back our common stock. The strength of our cash flows will allow us not only to repurchase shares in the coming quarters, but also to continue to invest in the long-term growth of our business."

In connection with the share repurchase program, ARC Document Solutions amended its senior secured credit agreement in order to provide additional flexibility to repurchase shares.

Under the new repurchase program, purchases of shares of common stock may be made from time to time in the open market, or in privately negotiated transactions, in compliance with applicable state and federal securities laws. The timing and amounts of any purchases will be based on market conditions and other factors including price, regulatory requirements, and capital availability. The share buyback program does not obligate the company to acquire any specific number of shares in any period, and may be expanded, extended, modified or discontinued at any time without prior notice.

The company expects that the repurchase program will be funded by cash flows generated from its operations. At the end of 2015, the Company had approximately 47 million shares of common stock issued and outstanding.

HP DesignJet Printing Technology Helps New Jersey Search and Rescue Save Lives

HP DesignJet Printing Technology Helps New Jersey Search and Rescue Save Lives

New Jersey Search and Rescue (NJSAR), a team of more than 50 highly trained volunteers who conduct an average of 25 missing-person searches per year, installed an HP DesignJet T2500 Multifunction Printer (MFP) to produce large-format maps to aid in search-and-rescue missions. On call 24 hours a day, seven days a week and 365 days a year, NJSAR provides New Jersey, New York and Pennsylvania with incident management, mountain rescue, ground search, medical, and K-9 search-and-rescue services.

Helping NJSAR remain on the forefront of search-and rescue-strategy, the HP DesignJet T2500 MFP scans, prints and copies 36-inch maps to help the team collaborate and streamline communications. With time of the essence, the machine offers crucial mobile printing, allowing search teams to print straight from their Apple® or Android™ smartphones or tablets wherever or whenever is needed.

“Before installing the HP DesignJet T2500 MFP, our team was limited to printing tiled maps on 8.5x11-inch paper and taping the pieces together, or just using small maps, which made it difficult for incident management staff to collaborate on scene,” explained David Clarke, president, New Jersey Search and Rescue. “With the HP DesignJet T2500 MFP, we are equipped to produce large-scale maps quickly and reliably to help us optimize our search efforts and help return missing persons to their families.”

Search missions involve many organizations including search-and-rescue teams, local law enforcement, EMS, fire and local government entities. The large-format maps printed on the HP DesignJet T2500 MFP are critical in delineating search areas, keeping track of searchers’ locations, recording clues, highlighting areas of interest and defining regions that have already been searched. At the end of a search-and-rescue mission, the maps used have been annotated and highlighted by numerous members of the command staff, creating an irreplaceable record of what happened that day. NJSAR team members can simply feed these maps into the HP DesignJet T2500 MFP’s 36-inch scanner to instantly create digitized records of the mission, which can then be shared with law enforcement and other partners.

To learn more about the New Jersey Search and Rescue, please visit their website: http://www.njsar.org/

Memjet vs. HP (German Court Case) - HP Wins Lifting of Patent Infringement Preliminary Injunction

HP Inc. Wins Lifting of Patent Infringement Preliminary Injunction by MEMJET  

Feb. 3, 2016 – Today HP Inc. announced the favorable ruling to lift a patent infringement preliminary injunction by MEMJET. The ex parte preliminary injunction issued by the Regional Court in Munich affected HP Deutschland GmbH from sales of HP PageWide XL Series printers in Germany. In its ruling, the Court concluded the grounds for issuing the injunction were not satisfied, particularly as the HP PageWide XL products do not appear to infringe the asserted Memjet patent. Memjet may file an appeal of the decision.

“HP vigorously defends its intellectual property and is pleased with the court’s ruling in our favor,” said Thomas Valjak, Head of Large-Format Printing, EMEA, HP Inc. “We will now re-engage with our resellers and customers in Germany and offer HP’s PageWide XL printers and print heads that employ unique technology developed by HP over the last decades. HP’s PageWide XL products offer unique benefits in print speed, quality, reliability and usage cost.”

Memjet vs. HP vs. Memjet - another brief update on court case

On January 18^th, Memjet filed (with the court) its answer to HP’s counterclaim, and, within the answer, Memjet basically denied all of HP’s counterclaims.  In the answer document, Memjet requested a trial by jury.

If this case does go to a jury, I’m positive that jurors will have an “interesting time” trying to understand Memjet’s and HP’s claims and counterclaims and the differences between Memjet’s and HP’s patents.  I’d love to be on that jury!

More on the establishment of Copy General in Budapest Hungary

On January 12^th, we put up this post about Copy General Europe’s beginning in Budapest, Hungary.

http://reprographics.blogspot.com/2016/01/from-current-issue-of-larry-hunt.html

Today, January 22^nd, Ed Avis posted an interview-article about the establishment of Copy General in Budapest.  For this article, he interviewed Dirck Holscher, one of the founders of Copy General Budapest.  Ed did a great job on this interview/article:

http://www.irga.com/“it-was-like-the-wild-west”-opening-a-copy-shop-in-budapest-/