CHICAGO--(BUSINESS WIRE)--InnerWorkings, Inc. (NASDAQ:INWK), a leading provider of print procurement solutions to corporate clients in the United States, has acquired Spectrum Printing Systems, a leading provider of print management services based in Irvine, CA.
"The acquisition will establish a strategic presence for us in the Southern California print market, the third largest in the country," said Steven E. Zuccarini, Chief Executive Officer of InnerWorkings. "Spectrum has been in the industry for more than 20 years, and this acquisition will add a group of experienced sales and production professionals who will be able to leverage our systems, scale and approach."
Spectrum was founded in 1986 by Tom Ross and Terry Haffey. In addition to its core traditional print business, Spectrum also provides promotional products, apparel and complete warehousing and fulfillment services. In 2006, Spectrum had five sales representatives and generated revenue of $12.9 million.
"Becoming part of the InnerWorkings family will provide us with the tools and expertise to help grow our business," said Tom Ross, co-founder of Spectrum Printing Systems. "With InnerWorkings, we will be able to leverage our local market knowledge and client base to extend our reach into new product categories.”
About Spectrum Printing Systems
Irvine, CA-based Spectrum Printing Systems is a leading provider of print management services. Founded in 1986, the company provides print management services as well as promotional products, apparel and complete warehousing and fulfillment services. For more information on Spectrum Printing Systems, visit: www.spectrumps.com.
About InnerWorkings, Inc.
Chicago-based InnerWorkings, Inc. is a leading provider of print procurement solutions to corporate clients in the United States. InnerWorkings creates a competitive bid process to procure, purchase and deliver printed products as part of a comprehensive outsourced enterprise solution and in individual transactions. 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.
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 the prospectus, including the “Risk Factors” section, we recently filed with the SEC.