Fujifilm to Acquire Photocopying Pioneer Xerox for $6.1 Billion

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.

xerox-fuji

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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BDPA, formerly known as Black Data Processing Associates, was founded in Philadelphia, Pennsylvania over 40 years ago in 1975 to promote professional growth and technical development in underserved communities for those in or entering information and communications technology (ICT) oriented fields of interest and related industries. bdpatoday (ISSN 1946-1429) is a monthly serial periodical published in Washington, D.C. by participating local BDPA Chapters of National BDPA (NBDPA) within their respective media markets by local chapter Communications Committees. bdpatoday is emailed to BDPA members, BDPA corporate sponsors, or electronically delivered to BDPA Chapters and Chapter Interest Groups (CIGs) via social media as a benefit of membership. Popular Technology TV (PTTV) features the latest TECH-Inclusion innovations and multimedia STEM programming content produced for video streams and television programs by Industry with bdpatoday and National BDPA's Washington, D.C. Chapter for general audiences.

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