On August 9, Fujifilm Holdings announced its financial results for the first quarter of the fiscal year that will end on March 31, 2019. Fiscal 2017, the year that ended on March 31, 2018, was a tumultuous one for Fujifilm (see “Fujifilm Announces Year-End Results Under Cloud Cast by Termination of Xerox/Fuji Xerox Merger Plans”).
In an exclusive interview with Nikkei Asian Review, the CEO of Fujifilm said the Japanese company’s standing bid to acquire Xerox represents the ceiling the company will pay for the American office-equipment maker. “We would not go as far as to raise our terms of acquisition, set in January, to realize the deal,” Shigetaka Komori,
On July 26, Xerox announced its financial results for the second quarter and first half of 2018. And what a tumultuous first half it has been. The last few quarterly financial results announcements from Xerox have been memorable more for the drama surrounding the company’s plans to find a buyer than for the results themselves.
Fujifilm and Xerox are engaged in a war of words about whether their partnership will continue in the wake of Xerox’s decision to terminate their merger agreement (see “Xerox Says It Won’t Renew Technology Agreement with Fujifilm and Will Source Products Elsewhere,” “Fujifilm CEO Pens Letter in Response to Xerox Letter, Vows to Compete against
The rhetoric between longtime partners turned adversaries Xerox and Fujifilm reached fever pitch at the end of June with Xerox’s CEO vowing that Xerox will not renew its technology agreement with Fujifilm and will directly compete against Fujifilm in Asian markets (see “Xerox Says It Won’t Renew Technology Agreement with Fujifilm and Will Source Products
This week began with Xerox CEO John Visentin publishing a public letter to Fujifilm vowing that Xerox will not renew its technology agreement with Fujifilm and will instead source products from other firms and complete directly against Fujifilm in the Asia Pacific (see “Xerox Says It Won’t Renew Technology Agreement with Fujifilm and Will Source
Xerox indicates it will sever its long-running technology agreement with Fujifilm and source its equipment elsewhere, a move that will have big implications for both companies and other OEMs. In a matter of months, Xerox and Fujifilm have gone from technology partners that worked together closely for 56 years and were ready to merge to
Of course, this week’s big news in the ongoing Xerox/Fujifilm drama is that Fujifilm filed a breach-of-contract lawsuit against Xerox in the U.S. District Court for the Southern District of New York seeking well over $1 billion in damages because of Xerox’s decision to terminate its merger agreement with Fujifilm (see “Fujifilm Sues Xerox for
Fujifilm Holdings Corp. has sued Xerox Corp. for more than $1 billion, alleging that Xerox’s board of directors allowed itself to be steamrolled by two activist investors into calling off a proposed merger. “Xerox has recently been subject to the whims of activist investors Carl Icahn and Darwin Deason, who, notwithstanding their minority ownership of
On June 14, Fuji Xerox announced some personnel changes, including the appointment of new CEO John Visentin to Fuji Xerox’s board of directors. As noted in a Nikkei Asian Review post, Fuji Xerox has typically made a place for Xerox’s CEO on its board. However, with Xerox having recently scuttled plans to sell half its shares to
