Xerox Completes Sale of its IT-Outsourcing Business to Atos
Xerox reports today that it’s completed the sales of its Information Technology Outsourcing (ITO) business to French technology company Atos. Xerox had announced that it would sell its ITO business to Atos back in December 2014 for some $1.05 billion.
According to the firm, the sale of its IT-outsourcing business will enable it to better focus on expanding its Business Process Outsourcing (BPO) and Document Outsourcing (DO) businesses, areas where it says it has competitive and market advantages.
It also says the sale will enable new levels of collaboration in developing solutions for its customers that leverage Atos’ ITO capabilities, and highlight Xerox’s Business Process Outsourcing and Document Outsourcing expertise.
It expects to use the net after-tax proceeds of approximately $850 million from the sale to repurchase common stock and fund acquisitions. Its ITO business included approximately 9,600 employees in 42 countries.
- December 2014: Xerox to Sell IT Outsourcing Business to Atos for $1.05 Billion
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- April 2015: Xerox Revenue Down for First Quarter, Adjusts Forecast
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- January 2015: Xerox to Mass-Produce Thinfilm Memory Labels at Webster, N.Y., Facility
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- November 2014: Xerox Purchases Part of Intrepid Learning Solutions to Enhance its Own Learning-Solutions Portfolio