Photizo Group Acquires Lyra Research

Doc has quoted both the Photizo Group and Lyra Research over the years – both are good sources of independent information on different aspects of the imaging/document services industries. Well, now the two are one, as Photizo Group (which broadly deals with managed print services) recently announced its acquisition of Lyra Research (which tends to cover the hardcopy products). The acquisition unites the two market research groups, creating a comprehensive line of market intelligence and consulting services.

Photizo Group helps organizations understand the unique requirements of the services industry and build a successful business. Lyra Research is a major provider of market, product and technology information and analysis. Both firms focus on the print and imaging markets. The new organization will continue to operate from existing offices, with headquarters located in Midway, Kentucky.

Photizo Group and Lyra have cooperated on several projects in the past, and currently, the only overlap is in their client base. However, Photizo and Lyra have typically worked with different groups within an account. Current client contracts will be fulfilled and met with additional capabilities and services.

"Clients will benefit from enhanced capabilities in terms of forecasting, consulting, research, competitive analysis and publications. The combination of these companies creates a very comprehensive view of the market—from hardware to supplies to services and document management. We can provide a full view of the industry and its future to clients," said Charles LeCompte, Founder and President of Lyra Research. LeCompte will continue to play an active role in the company as a senior analyst and spokesman.

Some other details about the acquisition:

• Each organization will keep its brands intact and associated with its respective products.

• There is significant value in Lyra's Observer brand and it will be leveraged across all media to provide a complete view of the imaging market.

• Photizo Group's conferences as well as Lyra's Imaging Symposium will remain intact, and the companies will evaluate the best way to approach the conferences as a single entity in 2013.

Doc thinks this acquisition makes a lot of sense as the imaging industry struggles with a hybrid role as both manufacturer and service provider. The two functions are becoming intertwined in a complex way, and it will be interesting to see how the new Photizo/Lyra organization tackles the topics of interest to the imaging industry and associated services.