Former Xerox CEO Joins Siris
One of the casualties of investor Carl Icahn’s battle against a now-scuttled Fujifilm acquisition of Xerox was former Xerox CEO Jeff Jacobson, who resigned as CEO, along with several Xerox board members, last May.
Now, however, Siris, a private-equity firm focused on investing in technology and telecommunications companies, announced that Jacobson has joined the firm as an executive partner.
In April, Electronics For Imaging (EFI), which markets digital imaging technology for commercial and production printing, announced that it had entered into a definitive agreement to be acquired by an affiliate of private-equity firm Siris in an all-cash transaction valued at approximately $1.7 billion, a transaction expected to close in the third quarter of 2019.
Jacobson – who would have been CEO of a merged Xerox-Fuji Xerox if the Fujifilm deal had succeeded – will “collaborate with the firm’s investment team and Executive Partners to help evaluate potential investment opportunities for Siris as well as help oversee the operations of its portfolio companies” – which will likely include EFI.
Throughout his three-decade-long career, Jacobson has served as Xerox CEO, as well as both president and chief operating officer of Xerox’s Technology Business, and president of Xerox’s Global Graphic Communications Operations. Prior to joining Xerox in 2012, Jacobson was the chairman, president and CEO of Presstek, a manufacturer of digital offset-printing solutions.
As an executive partner at Siris, the firm says Jacobson “will draw upon his deep experience of building and generating value in industrial printing and technology businesses to help grow Siris’ portfolio companies and identify meaningful investment opportunities in the industrial printing, packaging and adjacent ecosystems.”
- April 2019: EFI To Be Acquired by Private-Equity Firm Siris Capital
- May 2018: Icahn, Deason Reject Xerox Peace Offering, Denounce Leadership