Xerox has taken another big step forward in its march toward becoming two separate, publicly traded companies by the end of this year. On June 23, Xerox announced that Jeff Jacobson will be appointed as chief executive officer (CEO) of Xerox Corporation after the split. Xerox announced plans to separate into two independent companies on
On June 16, Xerox announced the names of the new companies that will be created following its separation into two independent, publicly traded entities. The Business Process Outsourcing (BPO) company will be named Conduent, Inc., and the Document Technology company, which will be responsible for Xerox’s hardcopy hardware and supplies business, will remain Xerox Corporation.
Last fall, when Hewlett-Packard split in two, its partner programs bifurcated as well, resulting in HP Inc.’s Partner First program and Hewlett Packard Enterprise’s (HPE) Partner Ready program. Depot International, a manufacturer and distributor of replacement parts for printers, computers, and servers and part of the Clover Imaging Group (CIG) portfolio of companies (see “Clover
On April 25, Xerox announced its first-quarter 2016 financial results. This is the first quarterly results announcement following the big news in January that Xerox plans to split into two publicly traded companies: an $11 billion Document Technology and Document Outsourcing (DO) company and a $7 billion Business Process Outsourcing (BPO) company (see “Xerox to
Last week, Eastman Kodak announced that it is planning to sell its Kodak Prosper enterprise inkjet business, including its Prosper Press Platform, Prosper S Series Imprinting Systems, and related products. If the firm does indeed find a buyer, this will be just the latest asset sale of many from Kodak over the last four years.
Last week, the bidding for Toshiba’s medical equipment business narrowed, as Toshiba gave Canon exclusive rights to negotiate the purchase of the business and a deadline of March 18 to work out final terms of the deal (see “Cash-Strapped Toshiba Lets Canon Negotiate Exclusively for Medical Business Unit”). Now, Canon and Toshiba have come to
Xerox Corporation has announced that it has closed a $1 billion senior unsecured term loan, to be drawn by April 1, 2016. According to the company’s press release, the loan was arranged by a syndicate of seven banks: JPMorgan Chase Bank, N.A.; Merrill Lynch, Pierce, Fenner & Smith Incorporated; BNP Paribas Securities Corp.; Citigroup Global Markets
It is a time of shakeups and breakups for printer OEMs/electronics companies. Hewlett-Packard split in two and the new HP Inc. continues to restructure, Xerox plans to divide into two companies, Lexmark continues to explore “strategic alternatives” for its business, and a floundering Sharp may or may not be acquired by Hon Hai Precision Industry
On February 23, Lexmark announced its fourth-quarter and full-year fiscal 2015 financial results. The firm’s third-quarter announcement made headlines for a couple of reasons (see “As Laser Hardware and Supplies Sales Plummet in Q3, Lexmark Explores Strategic Alternatives”). Lexmark’s revenue continued to decline and the firm reported operating and net losses in the third quarter,
On January 29, Xerox revealed what the company will look like after the “review of … business portfolio and capital allocation options, with the goal of enhancing shareholder value” that the company announced in October (see “Xerox Announces Revenue Declines and Net Loss in Q3, Will Evaluate Businesses and Options”). And the new form the company