Xerox is acquiring Affiliated Computer Services (ACS) for USD 6.4 billion. This takeover deal marks the photocopier giant’s entry into the fields of data management and technology outsourcing.
Xerox is buying Affiliated Computer Services (ACS) in a cash and shares deal worth $6.4 billion.
Xerox is currently the world leader in digital printer and document management services.
As soon as the deal became public, shares in the company fell by 14% on Monday. On the other hand, ACS shares gained by 16.5 %.
Xerox has announced that it would take over ACS’s debts which are worth about $2 billion as a part of the acquisition.
Xerox believes that the acquisition deal with enable it to expand their business and benefit from stronger revenue and earnings growth. Ursula Burns, Chief Executive for Xerox described the deal as a “game changer”.
Affiliated Computer Services (ACS) is an information technology services company that deals with telecommunications, retail, financial services and education sectors. After the acquisition by Xerox, ACS will continue to operate as a stand-alone firm.