Xerox Holdings Corp. and Fujifilm Holdings Corp. have agreed to end a 57-year-old joint venture more than a year after a full merger attempt. As the transaction is expected to be completed this month, Fuji Xerox will be the 100% subsidiary of Fujifilm. While Fuji Xerox will continue to supply products to Xerox under an existing agreement, Fuji Xerox will also benefit from expanded OEM capabilities to use its development and manufacturing capabilities to supply products such as printer engines to customers around the world, including the United States and Europe. “We anticipate that the acquisition of shares will strengthen the integration between Fujifilm and Fuji Xerox and improve efficiency. The expected continuation of a cross-licensing agreement means that the significant impact on Fuji Xerox`s business is unlikely,” ratings agency S-P Global said in a statement. For more information about the transaction, see www.thenewfujixerox.com. The legal dispute between the headquarters of Xerox Holdings Corp. and Japan`s Fujifilm Holdings Corp.
after the 2018 merger was interrupted has been resolved. Xerox Conference Call Xerox will host a conference call today at 8:00 a.m.m ET to discuss the transaction. The webcast is available on edge.media-server.com/m6/p/7ffthvi5 or www.news.xerox.com/investors. A repeat of the call will be available in www.news.xerox.com/investors. “These agreements continue our relationship with Fujifilm and offer the two companies a tremendous opportunity to grow together and independently,” John Visentin, vice president and CEO of Norwalk, Xerox, said in a statement at its headquarters. “These agreements also provide significant unrealistic value to our shareholders, clarify things for our customers and help us accelerate our transition to a digital business first.” The case of Icahn and Deason was a court decision at the end of April, which temporarily blocked the proposed merger with Fujifilm. The iconic U.S. printer and photocopier company announced the step in a statement Sunday and said it had reached a new agreement with activist investors Carl Icahn and Darwin Deason, who had strongly opposed the Fujifilm deal. Fujifilm FUJIFILM Holdings Corporation in Tokyo, Japan, brings continuous innovation through advanced proprietary technologies, using its photography expertise in a wide range of industries around the world, including healthcare, graphics systems, highly functional materials, optical devices, digital imaging and document products. These products are based on their wide range of chemical, mechanical, optical, electronic and imaging technologies. Fujifilm has been present in North America since 1965 and employs approximately 6,000 people in the United States and Canada. For the year ended March 31, 2017, the company generated global sales of $20.7 billion at an exchange rate of 112 yen against the dollar.
Fujifilm advocates for responsible environmental responsibility and good corporate citizenship.