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
Toshiba’s plans to remake itself in the wake of years of losses and scandals continued on June 5 with the announcement that the firm will sell 80.1 percent of its PC business to Sharp Corporation. The move follows the closing of the sale of Toshiba’s memory chip business to a consortium led by Bain Capital
Ever since Xerox settled with activist shareholders Carl Icahn and Darwin Deason and terminated its transaction agreement with Fujifilm, the industry has been waiting to see if and when Fujifilm might sue Xerox for damages. That wait is not over—Fujifilm has not filed suit against Xerox just yet—but the Japanese photography and imaging giant is
At last, we can put the will they sell/won’t they sell drama firmly behind us. On June 1, Toshiba Corporation officially announced it has closed the sale of Toshiba Memory Corporation (TMC), its memory chip business, to a consortium led by Bain Capital but also including Japanese state-backed Innovation Network Corp of Japan (INCJ), the Development
On May 29, HP Inc. announced its financial results for the second quarter of 2018, ended on April 30. It was yet another strong quarter for HP, following the firm’s robust start to the year (see “HP Posts Impressive Q1 2018 Results as Samsung Printer Acquisition Fuels Printing Business”). HP achieved double-digit revenue growth for
Konica Minolta Business Solutions U.S.A has acquired a Michigan IT services company called Macprofessionals Inc. The company will become part of Konica Minolta’s All Covered IT services division. Neither company provided the financial terms of the acquisition. As its name suggests Macprofessionals Inc., based in Farmington Hill, MI, specializes in Apple platform consulting, procurement, and
On May 18, 2018, Fujifilm Holdings reported financial results for the fourth quarter and full fiscal year ended on March 31, 2018. For the year ended in March 2018, Fujifilm reported revenue growth, but a big decline in operating income. Net income was up for the year. Just as Xerox’s Q1 results were overshadowed by
If you think there have been some big twists and turns in the Xerox/Fujifilm merger-and-acquisition drama, hang on tight. This roller-coaster ride isn’t over yet and we may be approaching the biggest loop yet: Fujifilm has now said it plans to sue Xerox. Yesterday, we wrote about what has happened in the days since Xerox’s
