On June 27, Xerox and billionaire activist investor Carl C. Icahn together announced an agreement for one of Mr. Icahn’s representatives to be appointed to Xerox’s board of directors. After Xerox announced that its board was exploring strategic options for the company in October 2015 (see “Xerox Announces Revenue Declines and Net Loss in Q3,
From June 20 to 22, HP Inc. held its 2016 Industry Analyst Summit at the Boston Hyatt. Attracting attendees from such regions as the Americas, Asia, and Europe, it was the first industry analyst conference the firm has hosted since it parted company with Hewlett Packard Enterprise in November 2015. With its new, exclusive focus on printing
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