At its first-ever investor event being held today and audio webcasted from New York City, Conduent Chief Executive Officer Ashok Vemuri and Chief Financial Officer Brian Walsh will present the company’s strategy with a focus on delivering long-term value for shareholders through profit and margin expansion, innovation and diversified solutions and platforms.... See Full Release
Xerox to Create Two Focused Industry Leaders and Unlock Value For Shareholders
On January 29, 2016, Xerox announced its plan to separate into two strong, independent, public companies. The separation, which Xerox expects to complete by the end of 2016, will create two industry-leading companies in order to maximize returns to shareholders and align the businesses to current market dynamics. Upon separation, the companies will benefit from greater strategic and operational focus, simpler organizational structures and more efficient allocation of capital. They will be better positioned to meet their clients’ needs and capitalize on the unique growth opportunities in their respective markets. The separation is intended to be tax-free to Xerox shareholders for federal income tax purposes.
- The Document Technology company, which will be called Xerox Corporation, will be a global leader in document management and document outsourcing with superior technology, solutions and innovation capabilities and had approximately $11 billion in 2015 revenue.
- The Business Process Outsourcing (BPO) company, which will be named Conduent Incorporated after the completion of the separation, will be an industry leader that helps clients improve their flow of work by leveraging its expertise in managing transaction intensive processes. In 2015, it had approximately $7 billion in revenue.
Corporate Releases & News
Xerox announced today that the U.S. Securities and Exchange Commission (SEC) has declared effective Conduent Incorporated’s Registration Statement on Form 10 filed in connection with Xerox’s separation into two independent publicly traded companies... See Full Release
Xerox announced today that its board of directors has approved the terms of Xerox’s separation into two independent, publicly traded companies and declared a pro rata dividend of the outstanding shares of Conduent common stock.... See Full Release
Xerox announced today its third-quarter financial results and reaffirmed its full-year guidance. The company reported continued progress on its strategic transformation program and remains on track to complete its planned separation into two independent, publicly traded companies by year end.... See Full Release
Xerox today announced the latest milestone in its plan to separate into two independent, publicly-traded companies – unveiling the global brand identity of Conduent Incorporated, the soon-to-be industry leading business process services company... See Full Release