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PrintWeek: Xerox continues use of Fujifilm printing technology News Partnerships 

PrintWeek: Xerox continues use of Fujifilm printing technology

GaryPageau , ,
The U.K.’s PrintWeek reports, that despite the end of the Fuji Xerox joint venture, Xerox will continue to license Fujifilm printing technology through the renewal of its contract with the Japanese manufacturer. The decades-long partnership between the two giants ended in 2019 after investors Carl Icahn and Darwin Deason thwarted Fuji’s plans to acquire the business, but the companies agreed... Read More
NikkeiAsia: Fuji Business Innovation cutting into ex-partner Xerox’s European turf News 

NikkeiAsia: Fuji Business Innovation cutting into ex-partner Xerox’s European turf

GaryPageau , ,
NikkeiAisa reports Fuji Business Innovation, Fujifilm Holdings’ office-equipment subsidiary formerly known as Fuji Xerox, is now directly competing with former partner Xerox in Europe, following the dissolution of the pair’s long-standing joint venture last year. Nikkei has learned Fuji Business Innovation will introduce large commercial printers under its own brand in Germany, Spain, Italy, and Portugal, using Fujifilm Holdings’ sales infrastructure.... Read More
Fuji Xerox to change name to FUJIFILM Business Innovation Corp. in April 2021 News 

Fuji Xerox to change name to FUJIFILM Business Innovation Corp. in April 2021

GaryPageau ,
Fuji Xerox announced its Asia Pacific operations will change to the Fujifilm brand with the changing of Fuji Xerox Co., Ltd. corporate name to FUJIFILM Business Innovation Corp. on April 2021. This change is brought forth based on the company’s decision to end the Technology Agreement with Xerox Corp. on the agreement’s expiration date, March 31, 2021. The Technology Agreement provides for... Read More
Xerox reports improved earnings on lower sales for 2019 Earnings reports 

Xerox reports improved earnings on lower sales for 2019

GaryPageau , , , 1 Comment
Xerox Holdings Corp. announced full-year 2019 revenue dropped 6.7 percent to $9.07 billion, but saved $640 million under the “Project Own It” cost-savings plan, which contributed to improved earnings and cash flow. “We are delivering on our three-year plan. We grew earnings per share, increased cash flow and expanded adjusted operating margin for the full year, and we improved our... Read More
Fuji Xerox ends tech deal with Xerox, to change name to FUJIFILM Business Innovation Corp. News 

Fuji Xerox ends tech deal with Xerox, to change name to FUJIFILM Business Innovation Corp.

GaryPageau , ,
Bringing an end a business arrangement dating back to 1962, Fuji Xerox Co. Ltd. announced it won’t renew the technology agreement with Xerox Corp. on the agreement’s expiration date, March 31, 2021. The agreement provides for technology/brand licenses and sales territories applicable to each company, the company said. The product supply agreement with Xerox will continue to be effective despite... Read More
Breaking: Xerox considering bid for HP Acquisitions News Opinion 

Breaking: Xerox considering bid for HP

GaryPageau , , ,
The Wall Street Journal reports  Xerox Corp., fresh off of its divestiture of Fuji Xerox, is now considering using part of its $2.3 billion proceeds to buy rival HP Inc. Xerox is considering making a cash-and-stock offer for HP, which has a market value of about $27 billion, according to people familiar with the matter. The copier maker’s board discussed... Read More
Xerox sells stake in Fuji Xerox to Fujifilm for $2.3 billion Acquisitions News Opinion 

Xerox sells stake in Fuji Xerox to Fujifilm for $2.3 billion

GaryPageau , , 1 Comment
Xerox Holdings Corp., Norwalk, Conn., announced it entered into an agreement with Fujifilm Holdings Corp. and assorted subsidiaries to sell to Fujifilm its 25% state in Fuji Xerox Co. Ltd., putting an end to one of the most rancorous corporate divorces in recent memory.  The company also sold Xerox’s 51% stake in Xerox International Partners (XIP), an OEM joint venture... Read More
Fujifilm not giving up on Xerox deal, but won’t sweeten it, either News 

Fujifilm not giving up on Xerox deal, but won’t sweeten it, either

GaryPageau ,
In an interview with the Nikkei Asian Review, Fujifilm Holdings‘ Chairman Shigetaka Komori conceded the nearly year-long campaign to acquire a 51-percent stake in Xerox Corp. through the purchase of the Fuji Xerox joint venture. Soon after, activist investors Carl Icahn and Darwin Deason not only opposed the merger but lead a boardroom coup resulting in the replacement of Xerox’s... Read More
Fujifilm wins appeal over aborted Fuji Xerox merger: Reuters News 

Fujifilm wins appeal over aborted Fuji Xerox merger: Reuters

GaryPageau , ,
Reuters reports Fujifilm Holdings Corp. has won an appeal in its legal battles with Xerox Corp, with a New York court overturning preliminary injunctions requested by an activist investor that had blocked their planned merger. According to the article, the New York State Appellate Court ruling could give Fujifilm leverage to bring Xerox management back to the negotiating table. Fujifilm... Read More
Fujifilm, Xerox split appears to be permanent Opinion 

Fujifilm, Xerox split appears to be permanent

GaryPageau ,
The imaging industry’s messiest breakup doesn’t look like it’s heading for a reconciliation any time soon Industry watchers and customers hoping for a resolution between the on-going conflict between Xerox Corp. and Fujifilm Holdings over the failed merger didn’t get much encouragement from the company’s top executives.  Last week, Xerox CEO John Visentin emphasized in the company’s second-quarter earnings report his desire... Read More
Kerfuffle escalation: Fujifilm, Xerox take steps to separate further, brace for competition News 

Kerfuffle escalation: Fujifilm, Xerox take steps to separate further, brace for competition

GaryPageau , , 1 Comment
The divide between Fujifilm Holdings and Xerox Corp. over their failed merger is growing larger and more contentious, as both companies issued statements ramping up the rhetoric. On June 25th, Xerox vice chairman and CEO John Visentin responded to Fujifilm’s filing of a $1 billion lawsuit with an open letter to Fujifilm Chairman and CEO Shigetaka Komori, blaming Fujifilm’s accounting practices for scuttling... Read More
Bloomberg: Judge rejects Fujifilm bid to dissolve Fuji Xerox deal injunction News 

Bloomberg: Judge rejects Fujifilm bid to dissolve Fuji Xerox deal injunction

GaryPageau , ,
Bloomberg reported Fujifilm Holdings Corp. failed to persuade a Manhattan state judge to dissolve an order barring its planned merger with Xerox Corp., cutting off a possible option for keeping the deal alive. The company has claimed in a separate lawsuit it will suffer $1 billion in damages if it can’t cement the $6.1 billion takeover, which was thwarted by... Read More
Jilted Fujifilm seeking $1 billion in damages from failed merger News 

Jilted Fujifilm seeking $1 billion in damages from failed merger

GaryPageau , , 1 Comment
CNN Money reports Japan’s Fujifilm Holdings Corp. is seeking more than $1 billion in damages from Xerox in district court in New York, over the failed Fuji Xerox merger. The amount is significantly higher than the $183 million termination fee built in to the deal. Fujifilm filed the following notice: Notice of Filing a Suit for Damages against Xerox Corporation FUJIFILM... Read More
Not so fast: Fujifilm looking to sue Xerox for deal cancellation News 

Not so fast: Fujifilm looking to sue Xerox for deal cancellation

GaryPageau , ,
At an earnings briefing last week, Fujifilm Holdings Corp. Chief Operating Officer Kenji Sukeno said the spurned company will seek legal remedies after Xerox Corp. pulled out of the proposed merger with Fujifilm subsidiary, Fuji Xerox. Reuters reports Sukeno said Xerox has no legal right to unilaterally terminate the deal and that the deal is in the best interests of Xerox shareholders.... Read More
Reversal of fortune: Xerox scuttles Fuji Xerox merger, acquiesces to activists News Press releases 

Reversal of fortune: Xerox scuttles Fuji Xerox merger, acquiesces to activists

GaryPageau , , ,
The board of Xerox Corp. announced yet another change in direction, this time embracing change proposed by dissident investors Carl Icahn and Darwin Deason. The company has terminated its proposed combination with Fuji Xerox, and replaced half of its board. CEO Jeff Jacobson resigned (again), after rejoining the company last week.  The new board will now investigate measures to “maximize... Read More