Xerox joins with Fujifilm

By: Elena Shcherban | 01.02.2018, 14:59
Xerox joins with Fujifilm

Japanese Fujifilm Holdings Corp. and   American Xerox Corp. officially declared   merger, thus confirming the recent rumors. Thus, Xerox goes under the wing of Fujifilm.

Terms of a transaction

This is about   merger of two companies into   one single   - Fuji Xerox, which was founded more than half a century ago (in   1962). After that, a controlling stake (50.1%) will be   Japanese, and   49.9% of the shares of the company will remain   shareholders of Xerox. In addition, they   will pay $ 2.5   billion dividends.

What's next

All formalities are planned to be completed by   the second half of 2018. After that, heads will fly: they will dismiss about 10 thousand employees. Fuji Xerox will head the head of Xerox Jeff Jacobson, and   Chairman of the Board of Directors will be occupied by the executive director of Fujifilm Sigetak Komori.

Have   companies will have two headquarters : one in   Norwalk, Connecticut, and   the second   - in   Tokyo.

Why united

Despite   its rich history and   big names, u   companies are not   best times. Xerox, which is more than 110 years old, is known for its copying technology. In addition to Xerox, thanks to Xerox, the world saw window graphic interfaces, floppy disks, computer mice and rugs, a laser printer and ethernet. Fujifilm, though   was created as a manufacturer of photographic equipment,   sales of office equipment. But   times have changed, the demand for   printing and   copying equipment falls, and   companies and   institutions are gradually moving from   paper on   electronic carriers. Therefore, in order not to   to burn both, the companies decided to unite.

By   preliminary calculations, all these measures will allow   2022 save $ 1.7   billion. But for now, after the news about the merger, shares of Fujifilm have fallen by almost 10%.

Source: Fujifilm , Bloomberg