Fuji Xerox introduces MICR

Australia`s Fuji Xerox has released the Nuvera 120 MX digital production system, which is equipped with magnetic ink character recognition (MICR), the company announced.

MICR is a process by which documents are printed with a magnetic toner or ink and special font to create machine-readable information for quick document processing.

MICR is said to address the needs of mail bureaux, corporate data centres and companies in the financial services and insurance industries.

Canon will enter the growing market for business-focused digital printers by year-end, reports zdnet.com.

The company aims to gain a 20% share of the $9 billion global market in five years by offering growth products.

Canon will compete with US makers such as Xerox and Eastman Kodak in digital printers for the business market as digital printers directly process printing jobs from computers and are suited to printing different types of material in small volumes such as catalogues.

Seagate released its Maxtor Fusion networked hard drive following the acquisition of Maxtor earlier this year, the company announced.

Marketed as a "personal media solution", the Fusion serves as a centralised location for storage of small office network.

The drive also features a Web-based interface based on technology from software maker, Fabrik, through which users can view thumbnails and content, download, organise with tags and categories, and generally manage their digital media.