Xerox Completes Sale of its IT-Outsourcing Business to Atos

xerox xXerox 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.

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