France-based digital services firm Atos has completed its purchase of Xerox‘s (NYSE: XRX) information technology outsourcing services portfolio.
Xerox said Tuesday it wants to concentrate on the business process outsourcing and document outsourcing markets following the sale.
Atos disclosed in late 2014 that the transaction includes a $1.05 billion upfront payment and $50 million in additional consideration.
Both companies also seek to expand their collaboration to offer integrated ITO platforms to customers.
Xerox expects the sale to generate approximately $850 million in proceeds and plans to use the money to repurchase shares and finance acquisition pursuits.