Tag: Xerox

Xerox reports first-quarter 2018 results

May 3, 2018May 4, 2018 GaryPageau Xerox

\ First Quarter 2018 Highlights Strong start to operating cash flow, at $216 million in the quarter Continued revenue growth in managed document services and Global Imaging Systems operations Adjusted operating margin of 10.4 percent, down 0.6 points year-over-year; operating margin, excluding equity income, up 0.5 points Core operating profit, excluding equity income, grew 5 percent year-over-year NORWALK, Conn.–(BUSINESS... Read More

News Press releases

Xerox reaches agreement with Carl Icahn and Darwin Deason, Xerox CEO resigns

May 2, 2018May 2, 2018 GaryPageau Carl Icahn, Darwin Deason, Fuji Xerox, Xerox1 Comment

Editor’s note: Unmentioned in the release below is the announcement Xerox CEO Jeff Jacobson resigned. According to CNBC, Jacobson and six other current Xerox board members, including Chairman Robert Keegan, are stepping down. The move also puts into doubt the proposed combination of Fuji Xerox and Xerox, which activist investors Carl Icahn and Darwin Deason oppose. As stated below, the “Board... Read More

News

Activist shareholder alleges Xerox CEO sought unauthorized Fujifilm merger

April 16, 2018April 16, 2018 GaryPageau Eastman Kodak Co., Fuji Xerox, Fujifilm, Xerox

Activist shareholder Darwin Deason has filed a lawsuit alleging Xerox CEO Jeff Jacobson disregarded board directives to pursue the merger of Xerox with Fuji Xerox, according to Reuters. In January, Fujifilm Holdings and Xerox inked a $6.1 billion deal to combine the U.S. company into their existing joint venture, Fuji Xerox, but the announcement met with resistance from Deason and Carl... Read More

News Press releases

Xerox reinforces significant benefits of its proposed combination with Fuji Xerox

March 7, 2018 GaryPageau Fuji Xerox, Xerox

MAR 07, 2018 — CORPORATE NORWALK, Conn. — The Board of Directors (the “Board”) of Xerox (NYSE: XRX) today issued the following letter to Xerox shareholders, reinforcing its belief in the significant benefits of the Company’s proposed combination with Fuji Xerox: *** Dear Xerox Shareholders, On January 31, 2018, Xerox announced its plans to combine with Fuji Xerox – the joint... Read More

News

Deason, Icahn at odds with Fuji Xerox merger

February 16, 2018 GaryPageau Carl Icahn, Darwin Deason, Fuji, Fuji Xerox, Xerox

Investors Carl Icahn and Darwin Deason are opposing the proposed merger of Fuji Xerox and Xerox, detailing in an open letter – reprinted below – their points. Also, Deason filed a lawsuit on February 13 seeking to enjoin the transaction, terminate the Xerox/Fuji joint venture lock-up and joint venture agreements and pursue strategic alternatives for Xerox. Defendants in the suit included... Read More

Opinion

Opinion: Xerox acquisition positions Fuji Xerox for not just survival, but growth

February 7, 2018February 25, 2018 GaryPageau Canon, Fuji Xerox, HP, Keypoint Intelligence, Moody's Investors' Services, Ricoh, Shigetaka Komori, Xerox

The merger announcement between Xerox and Fuji Xerox last week started the next chapter of the nearly six decades-long joint venture between U.S.-based Xerox and Japan’s Fujifilm. The merger had been long expected, and had been accelerated with the insistence of shareholder activists Carl Icahn and Darwin Deason. The combination is expected to improve the profitability and competitiveness of Fuji... Read More

News Press releases

FUJIFILM Holdings and Xerox Announce Agreement to Combine Fuji Xerox Joint Venture with Xerox

January 31, 2018January 31, 2018 GaryPageau Fuji Xerox, Fujifilm, Xerox

Creates a Global Leader in Innovative Print Technologies and Intelligent Work Solutions NORWALK, Conn. and TOKYO — Xerox shareholders to receive a $2.5 billion special cash dividend, or approximately $9.80 per share, and 49.9% of the combined company; Fujifilm to own 50.1% Combined company to deliver at least $1.7 billion in total cost savings, with $1.2 billion to be achieved... Read More

Earnings reports Press releases

Xerox reports strong fourth-quarter 2017 results; delivers on full-year commitments

January 31, 2018February 6, 2018 GaryPageau Xerox

Total revenue of $2.7 billion, up 0.5 percent or down 2.0 percent in constant currency year-over-year Equipment sale revenue up 4.3 percent or 1.5 percent in constant currency year-over- year Adjusted operating margin of 14.4 percent, up 0.2 points year-over-year Operating cash flow, both GAAP and adjusted, at high-end of guidance ranges Second-year savings from Strategic Transformation program above target... Read More

Events New Products Press releases

Xerox and EFI lay groundwork for next-generation printing with new Fiery-powered digital front end

January 24, 2018January 25, 2018 GaryPageau EFI, EFI Connect, Xerox

January 24, 2018 09:00 AM Eastern Standard Time – LAS VEGAS–(BUSINESS WIRE)–Xerox and Electronics For Imaging (EFI) today demonstrated a new Fiery® digital front end (DFE) that will give print providers a powerful new tool to manage high-value jobs that require special embellishments and effects using dry inks including silver, gold and clear. Keypoint Intelligence-InfoTrends projects that digital print enhancement volume will... Read More

News Press releases

Carl Icahn and Darwin Deason release joint statement regarding Xerox Corporation

January 24, 2018January 24, 2018 GaryPageau Carl Icahn, Darwin Deason, Fujifilm, Xerox

NEW YORK, NY–(Marketwired – January 22, 2018) – Today Carl Icahn and Darwin Deason released the following joint statement regarding Xerox Corporation (NYSE: XRX): We are the first and third largest shareholders of Xerox, beneficially owning collectively over 40 million shares of the company’s common stock, constituting over 15% of the outstanding shares. Because we are completely aligned regarding our... Read More

News

Carl Icahn questioning value of Xerox – Fuji alliance

January 19, 2018 GaryPageau Carl Icahn, Fujifilm, Xerox2 Comments

Famed activist investor Carl Icahn is scrutinizing the long-standing partnership between Xerox and Fujifilm. Icahn, who is Xerox’s largest shareholder, has questioned capabilities of the companies management and strategy. In an open letter to Xerox shareholders, he has demanded the board be revamped and the dismissal of CEO Jeff Jacobson. “Carl Icahn says Xerox’s joint venture with Fujifilm should be revised or terminated... Read More

New Products

EFI and Xerox Announce Next-Generation Fiery Server for Xerox iGen 5 Press

November 8, 2017 GaryPageau EFI, Fiery, Xerox

New Fiery server is first on new Fiery FS300 Pro platform and supports White Dry Ink on the iGen 5 Press FREMONT, Calif., Nov. 06, 2017 (GLOBE NEWSWIRE) — Electronics For Imaging, Inc. (Nasdaq:EFII) today announced the availability of a new EFI™ Fiery® digital front end (DFE) for the Xerox® iGen® 5 Press. The Xerox EX-P 5 Print Server Powered... Read More

Press releases

Xerox and EFI partner to give customers best-in-class digital front ends

February 2, 2017January 24, 2018 GaryPageau EFI, Xerox

February 02, 2017 – NORWALK, Conn. & FREMONT, Calif.–(BUSINESS WIRE)–Xerox Corporation (NYSE:XRX) and Electronics For Imaging (EFI) (Nasdaq:EFII) today announced a strategic partnership to bring to market a next generation digital front end (DFE) to drive Xerox digital production presses. The agreement includes the sale of Xerox’s FreeFlow® Print Server (FFPS) DFE business to EFI. Under the terms of the... Read More

News Opinion

Marathon bid for Shutterfly signals end of an era

May 28, 2015May 10, 2017 GaryPageau Centrics, ColorCentric, District Photo, HP, Kodak, Photo Finale, RPI, Shutterfly, Xerox

Over the last year, Shutterfly management has faced activist shareholders who are pressing for greater stock performance from the leading online photo-product company. Shareholders are understandably concerned about lower net income returns, low stock performance and increased expenditures. Last fall, Silver Lake Partners said it was planning to spend $2 billion to take private the Redwood City photo giant. Shutterfly management even... Read More