Xerox (NYSE: XRX) has acquired CPAS Systems, a pension administration software provider to private and public sectors.
Xerox will add CPAS’ to its human resources outsourcing services portfolio and aims to grow its footprint in the government pension administration outsourcing market, Xerox announced Tuesday.
CPAS managers and employees will remain with the company, which maintains its headquarters in Toronto.
The company’s open architecture platform works to facilitate mobile and browser access and management of retirement savings plans, health, group, welfare life insurance premiums.
Nancy Collins, president of Xerox’s state enterprise solutions group, said the company aims to expand its product portfolio in the government market as agencies face budget pressures.
“Pension administration is an area where innovation can help our customers recognize significant operational improvements, ” Collins added.
More than 2 million customers in the U.S., Europe, Asia, Africa, Caribbean and Canada use CPAS’ software, which was originally designed for Canada’s pension system.
CPAS is one of the first pension software companies in Canada to receive the ISO 9001:2008 quality standard certification, Xerox says.