Xerox to combine with Fujifilm in joint venture

01 February, 2018, 00:47 | Author: Manuel Hopkins
  • REUTERS  Thomas White  Illustration

Fujifilm is expected to make a stock and cash offer to Xerox that would give the Japanese group a 51 percent stake in the combined company, said a person with direct knowledge of the transaction terms. The new company will keep headquarters both in the USA and Japan.

Billionaire investors Carl Icahn and Darwin Deason, who collectively hold over 15 percent of Xerox, had jointly persuaded the photocopier pioneer to explore strategic options, oust its "old guard", including its CEO Jeff Jacobson.

The Journal reported Fujifilm and Xerox are close to a deal that would combine Xerox with the current joint venture company it has with Fujifilm, and that the US company's shareholders would own just under half of the resulting entity.

China airlines cancel Taiwan flights as air space row intensifies
Authorities in Taiwan have reacted sharply to China opening new air routes above the Taiwan Strait without consulting Taipei. The Civil Aeronautics Administration in Taiwan said that it was never consulted over the flight routes.

Fuji Xerox accounts for almost half of the Japanese company's sales and operating profit. "The new Fuji Xerox will be better positioned to compete in today's environment with truly global scale, increased presence in fast-growing markets, and innovation capabilities to effectively meet our customers' rapidly-evolving demands". "We believe Fujifilm's track record of advancing technology in innovative imaging and information solutions - especially in inkjet, imaging, and AI areas - will be important components of the success of the new Fuji Xerox".

It said the planned restructuring measures involve job cuts and closing or integrating manufacturing bases, and would lower annual costs by 50 billion yen from the year ending March 2020.

I am confident that Fujifilm's ability to drive change as well as its experience of successful reinvention will give a competitive edge to the new Fuji Xerox, delivering significant value creation to shareholders of both the new Fuji Xerox and Fujifilm. Fujifilm Chairman and CEO Shigetaka Komori will serve as chairman of the board. "It's going to be a big year for apps and partners building on Xerox's app platform".

Recommended:



Popular

Turkey reportedly detains hundreds for criticizing northern Syria Afrin operation
No decision has been made on heeding Turkey's public requests to move the troops, who are prepared to fight, the Pentagon says. Rockets hit two houses and killed one 17-year-old and wounded another person, Anadolu said.

Second Person of Interest Was Identified in Days After Las Vegas Shooting
Then the timeline shifted and reporters were told that Campos was actually shot by Paddock six minutes before the attack began. He says he wonders, "What did I miss?" and "Why didn't I pick this up?" in his interaction with Paddock.

Battle for Azeroth Pre-order Bonuses and Release Date Revealed
A boxed Collector's Edition of the expansion will also be available with a few goodies in addition to the previously stated bonuses.

Hawaii Fires Man Who Sent Out False Missile Alert, Top Administrator Resigns
The agency had a vague checklist for missile alerts, allowing workers to interpret the steps they should follow differently. Kenneth Hara, Hawaii's deputy adjutant general, to review emergency management protocol and to institute reforms.

Attorney General: Independent Counsel Will Investigate MSU
Numerous victims accused the MSU administrators and sports officials of not listening to their voices. Forsyth will work with investigators from the state attorney general's office and the State Police.

Ronda Rousey in Royal Rumble? UFC Fighter Responds to WWE Rumors
As Levesque explained, this is not a sudden flight of fancy for Rousey. "So I'm just having a lot of fun doing this". If she does this, when that time comes, she likes it to the point where it'll be tough for her not to be all-in.

Samsung's Galaxy S9 sees a leak ahead of announcement
Weinbach has also uploaded a short video on YouTube (attached above), which though not in detail, gives a demo of this feature. Samsung's upcoming beast, Galaxy S9 was earlier rumored to be featuring an improved iris scanner & face recognition sensor .

Trump dismisses report he wanted Robert Mueller fired as 'fake news'
The president has offered to be interviewed by Mueller under oath and has predicted he will be exonerated. The timing last summer was about a month after Trump fired former FBI Director James Comey in May.

Bruno Mars wins Grammy for document and tune of the yr
Leonard Cohen has also posthumously won a Grammy Award for rock performance for his album You Want it Darker . Other major contenders include Mars, with " 24K Magic ", his latest return to fun-loving, old-school funk.

United Kingdom ministers pledge business as usual with European Union during Brexit transition
The clash between the two Leave supporters came as video footage emerged of David Cameron describing Brexit as "not a disaster".