This Week in Imaging: Xerox and Fujifilm Reaffirm Partnership
After one of the most acrimonious failed acquisition attempts in the history of the document-imaging history – Fujilm’s failed takeover of Xerox – the two companies continue to affirm their renewed partnership.
In a Xerox press release outlining the company’s exhibit at the Printing United Expo next week, both companies had positive things to say about their partnership.
Xerox emphasized its OEM partnership with Fujifilm Business Innovation – once known as Fuji Xerox, the joint partnership between Xerox and Fujifilm, with Xerox CEO Steve Bandrowczak noting: “Our enduring collaboration with Fujifilm Business Innovation drives mutual success and industry advancements.”
On the other side, Fujifilm Business Innovation CEO and President Naoki Hama also affirmed the partnership: “For over 60 years, Fujifilm’s strategic partnership with Xerox has provided the production print industry with best-in-class hardware to drive long-term value to both clients and partners.” Hama also said he expected the partnership to endure for many years, noting: “Our continued strong business relationship with Xerox ensures we will continue to innovate and deliver cutting-edge products for many years to come.”
In 2023, Xerox expanded its sourcing relationship with Fujifilm Business Innovation, which may be for up to five years, and is said to have spent about $1.17 billion on Fujifilm products in 2023. Fujifilm is said to be Xerox’s largest manufacturing partner, and supplies products across Xerox’s entry, mid-range and high-end product portfolio.
The strengthened partnership between the two companies comes after Fujiflim’s failed attempt to purchase Xerox in 2018, which ultimately ended in the end of the 60-year joint Fujifilm and Xerox Technology Agreement, with Fujifilm buying out Xerox’s share in Fuji Xerox, with bitterness on both side.
That acrimony appears to be over however – especially since investors Carl Icahn and Darwin Deason have been out of the picture for some time, having sold their interests in Xerox. So it’s quite possible that Xerox and Fujifilm Business Innovation could in the future further expand their partnership.
Meanwhile, Fujifilm Business Innovation continues to expand its partnerships, including a sourcing partnership with Sharp, which is offering what appears to be Fujifim’s Revoria press. This year, Fujifilm also announced a new joint procurement partnership with Konica Minolta.
Back at Xerox, the company has rid itself of the control of Icahn, buying him out for $542 million last year, and with Icahn-named directors stepping down from the Xerox board. Xerox’s current majority investors are investment firms Vanguard and BlackRock – both of which are also the majority investors of HP Inc. and Hewlett-Packard Enterprise – the latter of which is now seeking to recover some $4 billion related to the HP-Autonomy deal gone bad – but that of course is a whole other story
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