Xerox announced it plans to split into two independent entities, a Document Technology company—which retains all the hardware and software—and a Business Process Outsourcing company—based around Xerox’s professional services organization.
According to InformationWeek, the Document Technology company of Xerox “had approximately $11 billion in revenue in 2015, while the Business Process Outsourcing company had approximately $7 billion in revenue last year”.
As revealed, the OEM aims to complete its separation by the end of this year and the statement declared, «Until the separation is complete, Xerox will continue to operate as a single company, and it will continue to be business as usual for our customers and employees.»
«These two companies will be well positioned to lead in their respective rapidly evolving markets and capitalize on the opportunities that now exist to expand margins and increase market share,» said Ursula Burns, Xerox chairman and CEO.
Also, the transaction shouldn’t have any tax implications for the company or its shareholders, while Carl Icahn will have control of three board seats in the new Business Process Outsourcing company.
Source: http://www.irecyclingtimes.com/News-Detail?news_column_id=8&news_id=6119
