NORWALK, CT and TOKYO // BDPA HARTFORD // – Fujifilm and Xerox announced on January 31st they have entered into a definitive agreement to combine Xerox and their longstanding Fuji Xerox joint venture (JV). This newly combined company will be a global leader in innovative print technologies and intelligent work solutions with annual revenues of $18 billion and leadership positions in key geographic regions.
NPR reports Xerox is one of the United States’ most recognizable companies — its name is synonymous with “photocopy.” Now, the company that pioneered the computer mouse and other office technology will shed its independence, and come under the Japanese company Fujifilm’s control in a $6.1 billion deal.
Fujifilm and Xerox established the Fuji Xerox joint venture in 1962. Fujifilm owns 75 percent of that joint venture. In the deal announced Wednesday, Fuji Xerox will buy back that stake from Fujifilm, and Fujifilm will use those profits to purchase 50.1 percent of Xerox shares.
NPR also reports the new $18 billion company, also named Fuji Xerox, will have dual headquarters in Norwalk, Conn., and Tokyo, and trade on the New York Stock Exchange.
Source and photos: Fuji Xerox
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