InnerWorkings Acquires UK-Based etrinsic Print Outsource Firm (Press Release)
By Graphic Arts Online Staff -- Graphic Arts Online, May 13, 2008
CHICAGO, May 12, 2008 (BUSINESS WIRE) -- InnerWorkings, Inc. (NASDAQ:INWK), a leading provider of managed print and promotional solutions to corporate clients in the United States, announced today that it has acquired United Kingdom-based etrinsic, a leading provider of print management and marketing services to many of the UK's most successful organizations.
etrinsic is among the 20 largest print management companies in the UK and generated revenue of approximately $44 million in 2007. With headquarters in Birmingham, it has over 100 employees, including 15 sales representatives providing nationwide coverage. Currently, etrinsic serves an impressive client roster across a range of business sectors, including utilities, retail, travel and leisure and financial services. etrinsic's expansive supplier network will enhance InnerWorkings' global supplier base.
"With the acquisition of etrinsic, we will be able to further support the print needs of our US-based customers that also have operations in the United Kingdom," said Eric D. Belcher, President and Chief Operating Officer of InnerWorkings. "After an extensive review of the UK print management market, we are proud to announce our partnership with one of the most reputable and established firms in the UK."
"This is an exciting partnership for etrinsic," said etrinsic Managing Director Matt Bird, who will continue to manage the operations of the business. "We share similar business approaches and values and a commitment to customer service. Our partnership with InnerWorkings will strengthen our technology capabilities and enable us to accelerate our expansion plans in the UK. We are confident that our long-term knowledge and success in the mature UK print management market will benefit InnerWorkings and its customers."
Since going public in August 2006, InnerWorkings has been aggressively expanding its geographic presence, deepening its domain expertise and expanding its sales force to complement its extensive and diverse supplier network.
About InnerWorkings, Inc.
Chicago-based InnerWorkings, Inc. (NASDAQ: INWK) is a leading provider of managed print and promotional solutions to corporate clients in the United States. With proprietary technology, an extensive supplier network and domain expertise, the Company procures, manages and delivers printed products as part of a comprehensive outsourced enterprise solution. Based in Chicago with numerous other offices in the United States, 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.inwk.com.
About etrinsic
Founded in 1970, Birmingham, UK-based etrinsic provides a full spectrum of print management and marketing services to many of the UK's most successful organizations, including Sainsbury's, National Express, LV= (formerly Liverpool Victoria Friendly Society), EDF Energy, Halfords, WWF-UK, Kraft Foods and the Chartered Institute of Purchasing and Supply (CIPS). Services cover print procurement and logistics, direct mail, creative design and data management. For more information on etrinsic, visit: www.etrinsic.co.uk
