Author: Ramona Adams|| Date Published: January 4, 2017
Xerox (NYSE: XRX) has officially separated into two publicly traded companies, one focused on digital printing technology and the other selling business process services.
The digital print technology company will carry the Xerox name while the business process service provider will operate independently as Conduent (NYSE: CNDT), GovCon Wire reported June 2016.
Xerox said Tuesday it received $1.8 billion from Conduent as part of the spinoff and will use the payment along with cash on hand to pay down nearly $2 billion in corporate debt.
Jeff Jacobson
Jeff Jacobson, who was chosen last year to serve as CEO of the new Xerox company, said the completion of the split will help increase Xerox’s market focus and create value for shareholders.
On Saturday, Xerox shareholders received one share of Conduent common stock for every five shares of common stock they owned from the original company as of the Dec. 15, 2016, close of business.
Xerox also eyes investments in market segments such as document outsourcing for small and medium businesses.
Virtualitics announced on LinkedIn Saturday that Nicole Diresta has been appointed vice president for public policy and planning. Diresta will oversee initiatives…
J2 Ventures has closed its $250 million Brookhaven Fund, an oversubscribed early-stage investment vehicle focused on dual-use technologies critical to…
The Department of Homeland Security’s Immigration and Customs Enforcement has started soliciting proposals for a potential two-year, $180 million contract…
The Department of Defense is conducting market research to assess industry capability and interest in supporting a planned indefinite-delivery/indefinite-quantity contract…
Xerox (NYSE: XRX) has officially separated into two publicly traded companies, one focused on digital printing technology and the other selling business process services.
