The $11 billion global technology leader has officially announced the completion of the company’s separation.
Xerox claims the financial model and revitalized business strategy of the company will generate strong free cash flow and expand margin following the split. Targeted investments in document outsourcing and solutions for small and medium-sized businesses can also be predicted.
Xerox has received US$1.8 billion from Conduent as a cash transfer along with the spin-off. It intends to use the money with cash on hand to pay off debt worth about US$2.0 billion.
Jeff Jacobson, the CEO of Xerox said, “Today is an historic day for Xerox. The successful completion of the separation sharpens our market focus and commitment to our customers. I am confident the transformational actions we are implementing position Xerox for long-term success and unlocks shareholder value.”
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