NORWALK, Conn. — Xerox (NYSE: XRX) today announced the completion of the previously announced sale of its Information Technology Outsourcing (ITO) business.
The transaction enables Xerox to increase its focus and resources on expanding its Business Process Outsourcing (BPO) and Document Outsourcing (DO) businesses, areas where the company has competitive and market advantage.
Additionally, this transaction will enable new levels of collaboration in developing innovative solutions for our customers that leverage Atos’ world-class ITO capabilities, and highlight Xerox’s Business Process Outsourcing and Document Outsourcing expertise.
Xerox expects to use the net after-tax proceeds of approximately $850 million from the transaction to repurchase common stock and fund acquisitions.
Xerox’s ITO business included approximately 9,600 ITO employees in 42 countries.
Xerox is a global business services, technology and document management company helping organizations transform the way they manage their business processes and information. Headquartered in Norwalk, Conn., we have more than 130,000 Xerox employees and do business in 180 countries. Together, we provide business process services, printing equipment, hardware and software technology for managing information — from data to documents.