Although Xerox has yet to succeed in its attempts to acquire HP Inc, the company did announce that it has acquired the British managed print services specialist and IT specialist Altodigital and ITEC Connect.
While terms of the transactions have not been disclosed, both acquisitions have already received government approval.
Back in January, Xerox announced that it had purchased the Arena Group which provides office technology, software, solutions and services and now the company has made two more strategic acquisitions targeting the fast growing SMB market in 2020.
- HP tells Xerox not to force takeover
- Carl Icahn buys stake in HP, calls for Xerox deal
- Why AI could be the key to taking Xerox to the next level
Managed print and IT services
Altodigital was incorporated in 1986 and in 2018, the company brought in £71.2m in Revenue. ITEC Connect on the other hand reported sales of £39.7m in the year to February 28 2019.
EVP and president of EMEA operations at Xerox, Xavier Heiss explained in a press release that these new acquisitions will help the company expand with new offerings, saying:
“We’re supporting small and midsize businesses seeking a modern work experience through two acquisitions in the UK. Altodigital and ITEC are both leaders in managed print services and specialists in IT services, an area into which Xerox is rapidly expanding with new offerings.”
- We've also highlighted the best printers
Via The Register
