Japanese printer firm, Konica Minolta has announced that it has acquired the production printing business of Monotech Systems, PTI reported.

As per PTI report, this decision has been taken by the company to have direct interaction with its customers in India. The company hasn't revealed the financial value of the acquisition which will come into effect from June 1.The acquisition has been done by the company through its sales subsidiary Konica Minolta Business Solutions India.

"We have played a leadership role in developing the production printing market here and now we have set ambitious targets for ourselves and the acquisition will provide us a platform to directly create new value for our customers," Konica Minolta India's MD Yuji Nakata said as per the PTI report.

Post the acquisition, the company will operate in 40 locations where direct sales and service support will be provided to the customers and its customers with the Monotech Systems along with the staff will be transferred to the company.