February 20, 2004 — HACKENSACK, New Jersey — Buyers Laboratory Inc. has been acquired by Mark Lerch and Michael Danziger, veteran publishing executives with extensive entrepreneurial experience. Buyers Laboratory Inc. ("BLI") was established in 1961 and has become the nation's leading source for unbiased and reliable product testing, comprehensive test reports, specification guides, product databases, and consulting services to the digital imaging marketplace.
Mark Lerch, who will assume the title of Chief Operating Officer, remarked, "We're excited at the opportunity to acquire a company with the history and reputation of BLI. That reputation has been built by a staff with unmatched expertise in the industry, and we are happy to be part of that team. The digital imaging market is undergoing significant and rapid change. We expect this dynamic to drive tremendous growth in the need for information products among equipment manufacturers, purchasers, and dealers, and we are excited to own the business at this time."
Michael Danziger, the new CEO of BLI added, "We believe that there is tremendous value in the comprehensive laboratory testing that BLI performs today. It's the only independent way to gain an in-depth understanding of a machine's performance in real working conditions, to gain true insight into the total cost of ownership, and to accurately gauge operating reliability. Over the next year, we are excited to begin to provide more timely reports and data; to deliver our information in a more robust and integrated manner; and to expand the types of information products that we provide. We intend to spend the next few months talking to existing and prospective clients, to explore new ways to meet their needs."
Burt Meerow, who sold the business to Danziger and Lerch, will stay on with the business in an advisory capacity post-closing. "BLI has been a family to me and it was a difficult decision to sell the business. I’ve given it the better part of my life and I would like to enjoy my semi-retirement knowing that the business has been placed in capable hands. I expect this acquisition to be positive for both the clients and employees of the business. Mark and Michael have exciting plans for investing in the business that should create opportunities for BLI's employees and meet the needs of the industry."
Danziger and Lerch immediately named Tony Polifrone Managing Director of the newly formed Digital Imaging Division of BLI. Polifrone said, "Speaking for myself and the senior management team of BLI, we're looking forward to working with Mark and Michael in helping BLI realize its full potential. The publishing expertise and investment capital they bring when combined with the outstanding people and products already in place, will usher in an exciting new chapter in BLI's story."
Lerch and Danziger indicated that BLI plans to look for additional acquisitions of publishing companies within the digital marketing space and in related markets.
Mark Lerch and Michael Danziger helped form IDD Information Services in 1984, a provider of financial information data, news, and services, which was sold to Extel Financial in 1986. They founded Rand Data in 1987 and together with Thomson Financial acquired Securities Data in 1988. Thomson acquired Rand Data and its interest in Securities Data in 1991 and Danziger and Lerch stayed on at Thomson as senior executives running major divisions of Thomson Financial. Danziger has been involved in several other "Business to Business" publishing ventures serving the Hospitality, Food, Chemical, Bank Technology, Corporate Communications, and Corporate Governance industries.
Terms of the deal were not disclosed. BLI was represented by New York based Whitestone Communications.
About Buyers Laboratory
For 47 years, Buyers Lab has been the leading independent office-equipment testing lab and business consumer advocate. In addition to publishing the industry's most comprehensive and accurate test reports on office document imaging devices, each representing months of exhaustive hands-on testing in BLI's US and UK laboratories, the company has been the leading source for extensive databases of specifications and pricing on copiers, printers, fax machines and multifunctional products. The company's databases cover 10,000 products and have a long-standing reputation for being the industry's most trustworthy and complete source for global competitive intelligence. They are available to BLI subscribers online via the company's bliQ competitive information service. This encyclopedic resource also provides quick and easy access to BLI's First Look Reports, Field Test Reports, Lab Test Reports, Solutions Reports, and BLI-produced articles.
In addition to the testing of office equipment for its subscribers, Buyers Lab provides consulting services to buyers and a vast array of confidential for-hire private testing services that include document imaging device beta and pre-launch testing, performance certification testing, consumables testing (such as toner, ink and photoconductors), software and solutions and print media testing (including virgin and recycled papers).
For more information on Buyers Laboratory, please visit www.buyerslab.com, call (201) 488-0404 or e-mail info@buyerslab.com.
