Xerox to split into services and hardware businesses – WSJ

Carl Icahn will get three seats on the board

Xerox’s headquarters at Norwalk in Connecticut

According to The Wall Street Journal (WSJ) report, Xerox is to split, dividing it into two companies – separate services and hardware businesses. The WSJ report says, “Xerox will divide into two publicly traded companies: one containing its office machines and another housing its services operations, according to people familiar with the matter . . . and give several board seats to activist investor Carl Icahn, reversing an effort by the century-old company to marry business services with its copiers and printers. As part of the move, billionaire Carl Icahn will get three seats on the services company’s board, the people said. Icahn in November disclosed a stake in Xerox and said he would seek talks with the company about its future. With an 8.1% stake in the company, Icahn’s hedge fund is now the second-largest shareholder after index giant Vanguard Group.”

In the past years, Xerox has seen an upsurge in its services business, despite this the company hasn’t been able to counter the slide in its traditional hardware operation. For decades, Xerox built its business by inventing new machines – such as the photocopier and the laser printer, and pushing companies to buy more office machines supplied with pricey ink and toner. Its success funded its famed Palo Alto Research Center, whose work included Ethernet Technology and an early prototype computer with a graphical user interface and mouse. But it endured bruising battles with UNS and overseas rivals that triggered layoffs and restructuring. In 2000, slashed its dividend in the face of huge losses and heavy debt. The company, which is now based in Norwalk and employs 140,800 people around the globe, had a bruising year in 2015,says the WSJ report.

In 2024, we are looking at full recovery and growth-led investment in Indian printing

Indian Printer and Publisher founded in 1979 is the oldest B2B trade publication in the multi-platform and multi-channel IPPGroup. It created the category of privately owned B2B print magazines in the country. And by its diversification in packaging, (Packaging South Asia), food processing and packaging (IndiFoodBev) and health and medical supply chain and packaging (HealthTekPak), and its community activities in training, research, and conferences (Ipp Services, Training and Research) the organization continues to create platforms that demonstrate the need for quality information, data, technology insights and events.

India is a large and tough terrain and while its book publishing and commercial printing industry have recovered and are increasingly embracing digital print, the Indian newspaper industry continues to recover its credibility and circulation. The signage industry is also recovering and new technologies and audiences such as digital 3D additive printing, digital textiles, and industrial printing are coming onto our pages. Diversification is a fact of life for our readers and like them, we will also have to adapt with agility to keep up with their business and technical information needs.

India is one of the fastest growing economies in nominal and real terms – in a region poised for the highest change in year to year expenditure in printing equipment and consumables. Our 2024 media kit is ready, and it is the right time to take stock – to emphasize your visibility and relevance to your customers and turn potential markets into conversations.

– Naresh Khanna

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