Xerox Blames Pandemic for Abandoning HP Bid

Xerox Blames Pandemic for Abandoning HP Bid

Xerox’s decision to suspend its bid to acquire HP Inc. is not related to the stock market decline. Xerox’ CEO John Visentin (pictured) claims in light of preparations underway to protect its employees and business partners from the coronavirus pandemic, it would not be prudent to focus on the deal.

“In light of the escalating COVID-19 pandemic, Xerox needs to prioritize the health and safety of its employees, customers, partners and affiliates over and above all other considerations, including its proposal to acquire HP,” Visentin said in a statement. “As we closely monitor reports from government and healthcare leaders across the globe and work with colleagues in the business community to minimize the spread and impact of the virus, we believe it is prudent to postpone releases of additional presentations, interviews with media and meetings with HP shareholders so we can focus our time and resources on protecting Xerox’s various stakeholders from the pandemic.”

Josh Justice, president of Just Tech in La Plata, Md. and a Xerox Accredited Master Elite Partner, praised the move, calling it the right play in these uncharted times.

“I think it is very important for Xerox and Xerox Partners to focus on the impact of the Coronavirus for the time being,” he said. “Changing our work methods, including moving in-person meetings to virtual WebEx meetings with clients and being considerate of clients concerns with regards to service calls with ensuring technicians are healthy and cautious, are two of the measures that JustTech has recently taken. We have had clients request that those entering their facilities fill out a health questionnaire, have their temperature taken and wear masks while at the clients’ location. Our technicians have been notified to abide by these requests and, of course, our team understands. Hopefully with all of the protective measures, the infections slow in coming weeks and we can get back to normal.”

Justice added that despite pressures on supply chains to deliver at this time, Xerox has assured its channel partners that its stock supplies remain at normal levels.

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Xerox Blames Pandemic for Abandoning HP Bid