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ScanSource history
ScanSource company history timeline
ScanSource, Inc. was formed at the end of 1992 to service resellers of point-of-sale (POS) and auto identification (AutoID) equipment.
Public Company Incorporated: 1992 as ScanSource, Inc.
In May 1993, ScanSource bought Marietta, Georgia-based Alpha Data Systems Inc., a ten-year-old company.
The next six months, however, saw a profit of $64,597 on sales of $6.5 million, and fiscal year 1993--94 ended with sales of $16.1 million and a $352,000 profit.
An initial public offering in March 1994 raised $4.6 million in capital.
With Arrow Electronics Inc.'s impending acquisition of Gates/FA, ScanSource cut ties to its partner in July 1994.
The firm's warehouse and MIS agreement began in the fall of 1994.
Several new product lines enhanced ScanSource revenues in 1995: Epson America receipt printers, Zebra Technologies bar code label printers, and Micro-Touch POS touch screen monitors.
ScanSource revenues reached $90 million in 1996, when it had 101 employees.
A leading data collection technology company, Intermec Corporation, tapped ScanSource to service its value-added resellers (VARs) in February 1997.
In 1997 ScanSource acquired another PC-oriented distributor, POS ProVisions of Canada, for $4.3 million worth of stock.
ScanSource created Catalyst Telecom in 1997 to distribute business telephone and computer telephony integration (CTI) products.
In 1998 ScanSource launched Catalyst Commerce and the Internet Fulfillment Group to allow customers to place orders over the Internet.
Sales increased by 65 percent to $76.9 million in the third quarter of 1998--99, compared with one year earlier.
Pepe, Michele, "Auto ID Spotlight TechTeach: Come One, Come All to POS Arena," Computer Reseller News, December 13, 1999,p.
It aimed to double sales in 1999 as the POS, AutoID, and telephony markets moved further away from direct sales.
Both ScanSource and Catalyst Telecom achieved ISO 9002 certification in 1999.
The rapidly growing company retooled its management team in January 2000.
ScanSource acquired e-commerce solution provider Black Arrow Capital Inc. in March 2000.
A leading POS supplier, NCR, was added to ScanSource's partners in November 2000.
Sales were $494.7 million in fiscal 2000 with income of $13.8 million.
Gresock, Sam, "Fortune Lists Two South Carolina Firms Among Fastest-Growing Businesses," State (Columbia, S.C.), August 16, 2001.
The figures continued to rise, reaching sales of $630.7 million in 2001 and income of $16.5 million.
Azerty, Inc.'s PositiveID unit, a distributor of bar code equipment, was acquired in 2001.
In 2002 ScanSource opened a new unit, Reseller Services.
In 2003 large retailers were making orders again, company CEO Mike Baur told VARbusiness . However, leading broadline resellers Ingram Micro Inc. and Tech Data Corporation were muscling into the POS arena.
HP became a supplier to ScanSource around January 2004, offering an affordable, Web-enabled POS platform aimed at the SMB (small to medium business) market.
——, "CEO Pitches South Carolina-Based Scan-Technology Firm's Hot Sales in New York," State (Columbia, S.C.), June 21, 2004.
Established a security unit in the fall of 2004.
Sales were up 23 percent in fiscal 2005 to $1.5 billion.
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ScanSource competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Essendant | 1922 | $5.0B | - | 36 |
| Summer Infant | 1985 | $143.7M | 112 | - |
| V. Suarez & Co. | 1943 | - | 563 | - |
| Halco Lighting Technologies | 1974 | $24.0M | 20 | - |
| Ohio Wholesale | 1974 | $5.0M | 24 | - |
| WRS Group | 1969 | $1.1M | 2 | - |
| Horizon Hobby | 1985 | $345.0M | 700 | 9 |
| Kaivac | 1997 | $8.0M | 20 | 1 |
| Petedge | - | $1.0M | 30 | - |
| North Light Color | 1999 | $37.4M | 20 | - |
ScanSource history FAQs
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ScanSource may also be known as or be related to ScanSource, ScanSource Inc, ScanSource, Inc., Scansource and Scansource, Inc.