Big news has taken over the office automation world within the last week that will come as a shock to many who follow the industry closely.
Xerox is best known for its photocopy machine technology, but the company is now making headlines after the recent news that Fujifilm has purchased the company for $6.1 billion. Fujifilm has announced that they will take over majority ownership.
The company, which was founded in Rochester, New York in 1906, has been a household name in office automation equipment for decades. Now, they are entering a new partnership that will usher them into a new era of modern office automation.
A Merger in the Making
For some time now, Xerox and Fujifilm have been operating under a joint partnership called Fuji Xerox. This partnership has existed since the 1960s under the name Fuji Xerox Co.
However, Fujifilm has recently taken sole ownership of the venture and will retain all control moving forward. Fuji Xerox will operate as a subsidiary of the Fujifilm brand, and currently accounts for nearly half of the company’s overall sales and operating budget.
This merger news comes after Xerox reported a quarterly loss and Fuji Xerox reported an increase in operating costs around the same time.
The Future of the Photocopy Machine and Office Automation
Fuji Xerox has been serving markets in China, Japan, and other areas in the Asia Pacific.
Xerox CEO Jeff Jacobson will be heading the new operation, with 2 main headquarters in Connecticut and Tokyo. Fujifilm CEO Shigetaka Komori will be the chairman of the company.
The new and improved company is expected to generate $18 billion in revenue, with a focus on technological innovation and improvement moving forward. According to Jacobson, this new merger will provide more resources and new technologies that will give them a more competitive edge in the ever-changing digital landscape.
