polkamatic
10 months ago
Xerox to deploy Verizon Network as a Service Solutions framework for IT modernization
February 27 2024 - 04:00AM
Verizon Business today announced Xerox Holdings Corporation (NASDAQ: XRX) is adopting Verizon’s Network as a Service (NaaS) Solutions framework to accelerate the organization’s Reinvention and operating model evolution. With the flexibility to dynamically scale network resources, Xerox can create a more efficient IT environment and redirect resources toward innovation and growth.
“This collaboration with Xerox underscores our commitment to enabling our customers to thrive in the digital age,” said Massimo Peselli, CRO, Verizon Business. “Verizon’s intelligent network framework is designed to empower enterprises to embrace the future of network services, providing unparalleled flexibility and scalability. We look forward to supporting Xerox as they transform their IT infrastructure.”
Verizon NaaS Solutions provide a secure network platform solution to help organizations drive operational efficiencies and adapt at speed, with a range of pre-configured and managed services on a subscription-based consumption model. To help Xerox create a more efficient IT environment guided by the principles of Zero Trust for technology reinvestment, Verizon’s next-generation global network infrastructure will underpin business operations for Xerox—delivering network services to over 300 Xerox and Xerox Business locations globally.
“As part of our Reinvention, Xerox is committed to simplifying our systems to drive enterprise-wide efficiency and scalability to best serve our clients,” said Louie Pastor, Chief Transformation & Administrative Officer, Xerox. “Expanding our partnership and deploying Verizon’s NaaS as our global network infrastructure is a natural next step to staying at the forefront of innovation, while helping us drive efficiencies across all the geographies we serve.”
Delivering on the Zero Trust journey using Advanced SASE, Verizon Business will provide Xerox with internet connectivity and a full suite of managed services via NaaS Solutions, including Wide Area Network, Local Area Network and Wireless Local Area Network. Additional services include; Verizon Operational and Financial Governance, Contact Center Management, Network and Security Consulting Services and Verizon Maintenance across the Network utilizing Verizon Care.
Adopting a subscription-based model eliminates the need for substantial upfront investments in traditional networking infrastructure, providing flexibility for strategic resource allocation. With Verizon leading the company’s network transformation, Xerox will continue to prioritize delivering exceptional services to clients to address the productivity challenges of today’s hybrid workplace and distributed workforce.
Providing service in over 180 countries around the globe, Verizon’s global IP network includes long-haul, metro and submarine assets that carry IP, data, and voice traffic across more than 1 million route miles, enabling over 500,000+ network, hosting and security devices managed worldwide. Today’s announcement builds on the company’s network-as-a-service foundation and supports its private networks, mobile edge compute and business solutions vectors of growth.
Visit our site to learn more about how Verizon NaaS Solutions can help enterprises optimize resources, enhance performance and innovate for future growth.
Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is one of the world’s leading providers of technology and communications services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $134.0 billion in 2023. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control..
VERIZON’S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at verizon.com/news. News releases are also available through an RSS feed. To subscribe, visit www.verizon.com/about/rss-feeds/.
Media contact:
Erin Cheever
erin.dowling@verizon.com
polkamatic
10 months ago
Xerox Holdings Corporation Declares Dividend on Common and Preferred Stock
Source: Business Wire
Xerox Holdings Corporation (NASDAQ: XRX) announced today that its board of directors declared a quarterly dividend of $0.25 per share on Xerox Holdings Corporation Common Stock. The dividend is payable on April 30, 2024, to shareholders of record on March 29, 2024.
The board also declared a quarterly dividend of $20.00 per share on the outstanding Xerox Holdings Series A Convertible Perpetual Preferred Stock. The dividend is payable on April 1, 2024, to shareholders of record on March 15, 2024.
About Xerox Holdings Corporation (NASDAQ: XRX)
For more than 100 years, Xerox has continually redefined the workplace experience. Harnessing our leadership position in office and production print technology, we’ve expanded into software and services to sustainably power the hybrid workplace of today and tomorrow. Today, Xerox is continuing its legacy of innovation to deliver client-centric and digitally driven technology solutions and meet the needs of today’s global, distributed workforce. From the office to industrial environments, our differentiated business and technology offerings and financial services are essential workplace technology solutions that drive success for our clients. At Xerox, we make work, work. Learn more at www.xerox.com and explore our commitment to diversity and inclusion.
Note: To receive RSS news feeds, visit https://www.news.xerox.com. For open commentary, industry perspectives and views, visit http://www.linkedin.com/company/xerox, http://twitter.com/xerox, http://www.facebook.com/XeroxCorp, https://www.instagram.com/xerox/, http://www.youtube.com/XeroxCorp.
Xerox® is a trademark of Xerox in the United States and/or other countries.
?
View source version on businesswire.com: https://www.businesswire.com/news/home/20240222390392/en/
Media Contact:
Justin Capella, Xerox, +1-203-258-6535, Justin.Capella@xerox.com
Investor Contact:
David Beckel, Xerox, +1-203-849-2318, David.Beckel@xerox.com
polkamatic
11 months ago
Im not excited about their earnings or forward thinking either. Lets face it, they're not on the cutting edge of anything..that we know of! Also they don't appear to be crumbling or planning to lay down and die in the near future, which is generally where it's valued, debt dragging them down like a stone, to fund a plump dividend. The market will take its eyes off it and move on to bright shiny things. And cheap options will rise in the distance like a shimmering oasis, waiting for the street to return to THE copy machine.
fung_derf
11 months ago
You may be right, but I'm just not seeing anything to get excited about. Missed their last earnings and 2024 doesn't look like much growth....
Xerox Releases Fourth-Quarter and Full-Year Results
Business Wire6:30 AM (UTC-05:00) Eastern Time (US & Canada) Jan 25, 2024
Xerox Releases Fourth-Quarter and Full-Year Results
Achieved adjusted operating margin and free cash flow guidance in 2023; Guiding to another year of meaningful growth in adjusted operating income
Financial Summary
Q4 2023
• Revenue of $1.77 billion, down 9.1 percent year-over-year or down 10.6 percent in constant currency.
• GAAP net loss of $(58) million, or $(0.50) per share, down $179 million or $1.24 per share, year-over-year, respectively. This quarter includes an after-tax Restructuring and related costs, net charge of $78 million, or $0.62 per share, related to the recently announced workforce reduction.
• Adjusted net income of $56 million, or $0.43 per share, down $90 million or $0.46 per share, year-over-year, respectively.
• Adjusted operating margin of 5.4 percent, down 380 basis points year-over-year.
• Operating cash flow of $389 million, up $203 million year-over-year.
• Free cash flow of $379 million, up $211 million year-over-year.
FY 2023
• Revenue of $6.89 billion, down 3.1 percent year-over-year, or down 3.3 percent in constant currency.
• GAAP net income of $1 million, or $(0.09) per share, up $323 million or $2.06 per share, year-over-year, respectively. 2023 includes a Q4 after-tax Restructuring and related costs, net charge of $78 million, or $0.62 per share, related to the recently announced workforce reduction. 2022 includes an after-tax non-cash goodwill impairment charge of $395 million, or $2.54 per share.
• Adjusted net income of $287 million, or $1.82 per share, up $98 million or $0.70 per share, year-over-year, respectively.
• Adjusted operating margin of 5.6 percent, up 170 basis points year-over-year.
• Operating cash flow of $686 million, up $527 million year-over-year.
• Free cash flow of $649 million, up $547 million year-over-year.
Xerox Holdings Corporation (NASDAQ: XRX) today announced its 2023 fourth-quarter and full-year results and guidance for 2024.
“Last year, steps we took to structurally simplify our business impacted revenue but led to 170 basis points of adjusted operating margin expansion and laid the foundation for successful execution of our Reinvention,” said Steve Bandrowczak, chief executive officer at Xerox. “As we enter 2024, we are focused on stabilizing and strengthening our core Print business, driving enterprise-wide efficiency and productivity gains through our new Global Business Services organization, and further capturing opportunities in Digital and IT Services. We expect balanced execution on these priorities, supported by our new operating model, will yield significant progress towards our three-year adjusted operating income improvement target of $300 million above 2023 levels."
polkamatic
2 years ago
Defense World: 147,893 Shares in Xerox Holdings Co. (NYSE:XRX) Bought by State of New Jersey Common Pension Fund D
State of New Jersey Common Pension Fund D bought a new position in Xerox Holdings Co. (NYSE:XRX – Get Rating) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 147,893 shares of the information technology services provider’s stock, valued at approximately $2,159,000. State of New Jersey Common Pension Fund D owned 0.10% of Xerox as of its most recent filing with the SEC.
More:
147,893 Shares in Xerox Holdings Co. (NYSE:XRX) Bought by State of New Jersey Common Pension Fund D
polkamatic
2 years ago
XRX: Xerox’s PARC Spins Out Novity, a Breakthrough Predictive Maintenance Venture
NORWALK, Conn., November 02, 2022--(BUSINESS WIRE)--Xerox has spun out Novity™, a start-up founded by Xerox’s Palo Alto Research Center that has developed and commercialized industrial predictive maintenance technology.
"PARC’s goal has always been to incubate, launch and commercialize disruptive technologies, and Novity is an excellent example of this model in action," said Naresh Shanker, chief technology officer at Xerox and President at PARC. "We are proud of Novity’s success to-date and look forward to following the journey as it grows beyond PARC and brings manufacturers closer to the ultimate goal of zero unplanned downtime."
"Our commitment to existing and future industrial customers is to fundamentally transform the performance of a key part of their operations and ensure that it performs consistently and predictably," said Markus Larsson, founder and CEO, Novity. "With the combination of our team and PARC’s IP embedded in the Novity TruPrognostics™ engine, we’re well on the way to deliver on our mission to make manufacturers operate cleaner, faster and better."
The Novity solution was launched by PARC earlier this year and is an Industrial Internet of Things (IIoT) technology that uses equipment sensors and proprietary algorithms to enable industrial manufacturers to see the future health of their production assets without large amounts of historical data. The Novity TruPrognostics engine relies on a combination of machine learning and physics-based models of equipment, predicting failures with 90 percent or better accuracy and lead times of months, not weeks or days.
With the spin out, Xerox will maintain a minority stake in Novity.
https://finance.yahoo.com/news/xerox-parc-spins-novity-breakthrough-120000265.html
polkamatic
3 years ago
Xerox Holdings Corporation Plans Webcast to Discuss 2021 Fourth-Quarter and Full-Year Results
https://finance.yahoo.com/news/xerox-holdings-corporation-plans-webcast-140000111.html
NORWALK, Conn., January 18, 2022--(BUSINESS WIRE)--Xerox Holdings Corporation (NASDAQ: XRX) will host a live audio webcast with online presentation slides at 8 a.m. ET on Tuesday, Jan. 25, to discuss the company’s 2021 fourth-quarter and full-year results. A news release containing this information will be issued earlier that day at 6:30 a.m. ET.
WHEN: 8 a.m. ET, Tuesday, Jan. 25, 2022
WHAT: Review of Xerox’s 2021 fourth-quarter and full-year results
WHO: John Visentin, vice chairman and chief executive officer, Xerox Xavier Heiss, chief financial officer, Xerox
AUDIO WEBCAST: https://edge.media-server.com/mmc/p/5gdpsa99 or https://www.xerox.com/investor
Replay available.
About Xerox Holdings Corporation (NASDAQ: XRX)
For more than 100 years, Xerox has continually redefined the workplace experience. Harnessing our leadership position in office and production print technology, we've expanded into software and services to sustainably power today's workforce. From the office to industrial environments, our differentiated business solutions and financial services are designed to make every day work better for clients — no matter where that work is being done. Today, Xerox scientists and engineers are continuing our legacy of innovation with disruptive technologies in digital transformation, augmented reality, robotic process automation, additive manufacturing, Industrial Internet of Things and cleantech. Learn more at xerox.com.
polkamatic
3 years ago
Xerox Announces Multiyear Cloud Deal With Oracle
https://ashline.net/xerox-announces-multiyear-cloud-deal-with-oracle/
Dec. 18, 2021
The multiyear deal provides Xerox with a range of services for its business. The firm believes it will save the company up to $300 million over the next five years.
Xerox and Oracle have announced a multiyear cloud deal that will allow both companies to work together in the cloud. The deal will give Xerox access to Oracle’s cloud services, while also allowing Oracle to tap into Xerox’s hardware expertise.
On Thursday, Xerox Holdings Corp. announced a multiyear agreement with Oracle Corp., which would offer cloud computing infrastructure and software to Xerox’s business incubator.
The deal’s terms were not revealed.
The move is part of Xerox’s aim to accelerate the creation of new businesses that go beyond its trademark printers and copiers, whether as new business units, startups, subsidiaries, or joint partnerships.
Xerox’s net income for the quarter ended Sept. 30 fell to $90 million from $219 million a year earlier, when corporations migrated to remote work and left vacant buildings behind during the height of the Covid-19 epidemic in 2020. The business announced in October that net income for the same time this year was nearly steady at $89 million.
According to Naresh Shanker, Xerox senior vice president and chief technology officer, “creating new in-house companies” was a strategy that predates the pandemic but was expedited by workplace closures and remote work.
The objective, according to Mr. Shanker, is to build firms focusing on 3-D printing, industrial Internet-of-Things, and sustainable technology, among other new technologies, which the company has recognized as having high development potential.
Mr. Shanker said, “The aim is to develop an atmosphere and agility to compete with all of the entrepreneurs in these various areas throughout the globe.”
Xerox, based in Norwalk, Conn., is using Oracle’s cloud services to provide the digital backbone for these new businesses, which includes enterprise apps for e-commerce platforms, finance and accounting, budgeting and financial planning, analytics, and a data warehouse, among other tools, according to him.
Depending on the industry and market, each new company is projected to need its own unique information-technology infrastructure, according to Mr. Shanker. Importantly, he noted, these systems must be implemented quickly and flexible enough to react to changing market needs.
“It’s all about getting things done quickly.” “That’s how we got here,” Mr. Shanker said.
https://ashline.net/xerox-announces-multiyear-cloud-deal-with-oracle/
polkamatic
3 years ago
Xerox Releases Third-Quarter Results
Tue, October 26, 2021, 6:30 AM
NORWALK, Conn., October 26, 2021--(BUSINESS WIRE)--Xerox Holdings Corporation (NASDAQ: XRX) today announced 2021 third-quarter results.
Xerox Releases Third-Quarter Results
"Our revenue this quarter was essentially flat year-over-year, despite a deterioration in global supply chain conditions and the Delta variant, which caused delays in many of our clients’ plans to return employees to the workplace," said Xerox Vice Chairman and CEO John Visentin. "As a result of these ongoing challenges, we are revising our revenue guidance lower, but we are maintaining our free cash flow guidance of at least $500 million. Our focus on generating cash allows us to preserve, and in some cases increase, investments in innovation, while continuing to return more than 50% of free cash to shareholders and pursue M&A."
Non-GAAP Measures
This release refers to the following non-GAAP financial measures:
Adjusted EPS, which excludes Restructuring and related costs, net, Amortization of intangible assets, non-service retirement-related costs, Transaction and related costs, net and other discrete adjustments from GAAP-EPS, as applicable.
Adjusted operating margin and income, which exclude the EPS adjustments noted above as well as the remainder of Other expenses, net from pre-tax income and margin.
Constant currency (CC) revenue change, which excludes the effects of currency translation.
Free cash flow, which is operating cash flow less capital expenditures.
Refer to the "Non-GAAP Financial Measures" section of this release for a discussion of these non-GAAP measures and their reconciliation to the reported GAAP measures.
polkamatic
3 years ago
CRN: Xerox Acquires IT Consultant Competitive Computing To Reach More SMBs
By C.J. Fairfield
October 08, 2021
https://www.crn.com/news/channel-programs/xerox-acquires-it-consultant-competitive-computing-to-reach-more-smbs
Xerox has acquired Colchester, Vt.-based computer consulting firm Competitive Computing (C2) in a move to expand its IT security and cost optimization solutions in the SMB space.
“If you think about our clients today, and SMB clients particularly, there is an increased reliance on technology as a key element of their business success,” Joanne Collins Smee, executive vice president, chief commercial, SMB and channel officer at Xerox, told CRN. “The second thing is technology is burgeoning with complexity because of all the different solutions. Then the pandemic, of course, meant that clients had fewer staff, so things were more complex.
“We have found an incredible interest from our clients that traditionally had bought print from us saying, ‘Can you come in and help us manage the rest of our IT environment?’” she added.
[Related: Xerox Launches CareAR Subsidiary, Receives $10M Investment From ServiceNow]
About 65 employees are coming over to Xerox in the acquisition. Financial terms of the deal were not disclosed.
The Competitive Computing acquisition expands on two other Xerox acquisitions intended to help Xerox expand its IT services lineup. Xerox acquired both ITEC Connect, a leader in IT services in the U.K., and Digitex, an IT services provider in Canada, in March 2020.
“This is part of what we‘re doing to address the need that’s out there for technology support,” Collins Smee told CRN. “We are going to be very focused on security and protecting them. We think we have a really winning solution here with our new IT services offering.”
The Competitive Computing acquisition brings more technical support expertise to Xerox as well as grow its capacity to serve more clients, she said.
“The reality is SMBs are hit much more frequently by the bad guys than the big firms,” she said, noting the security challenges faced by small businesses. “With cost optimization, they‘re looking [to] use technology to actually have a lower cost profile and drive business success.”
Competitive Computing will initially operate under that name and then move to Xerox Business Solutions, Collins Smee said.
“We are thrilled to join the Xerox IT Services team. After serving Vermont, New England, and national clients for over 28 years, our company and team members are ideally positioned to contribute to the growth of Xerox IT Services,” said Marty Thieret, co-founder and CEO, Competitive Computing, in a statement. “Together with Xerox, we will broaden the portfolio of high-value IT and business services for our expanding client base, offer tremendous employee growth opportunities, and continue investing in the Vermont community.”
Collins Smee said Norwalk, Conn.-based Xerox recently did a survey on the SMB market and found that security is the biggest concern, followed by the burgeoning complexity of operating IT with a limited staff and, thirdly, cost optimization. To help those clients, Xerox now offers IT solutions that include laptop, server, network and router support.
The company is also offering robotic process automation (RPA) services by using the Xerox technology team to evaluate client‘s current business processes, however big or small they are. Xerox then works with the client to document the workflow and build the bots to automate key processes.
“When people think about Xerox, traditionally they think about print and we have evolved to be so much more than that,” Collins Smee said.
polkamatic
3 years ago
PR: Xerox Joins Gartner Peer Insights Customer First Program, Becomes First Provider of Managed Print Services in the Distributed Workplace to Earn Customer First Badge
https://finance.yahoo.com/news/xerox-joins-gartner-peer-insights-130000280.html
NORWALK, Conn., October 06, 2021--(BUSINESS WIRE)--Xerox announced today that it joined the Gartner Peer Insights Customer First Program. Today, Xerox is the only provider of Managed Print Services in the Distributed Workplace to have earned the Customer First Badge. Receiving this badge signifies Xerox’s commitment to soliciting fully representative customer reviews and utilizing those reviews to shape the future of the company’s products and services.
"We believe being a Customer First provider of managed print services is a testament to the incredible work that we do every day here at Xerox," said Mike Feldman, president, Americas Operations and Global Document Services at Xerox. "We are committed to supporting our customers by delivering first-class transformative solutions that are cloud-based, productive and secure, and we will continue listening to our customers and expanding our services to meet their evolving needs."
As part of Gartner Peer Insights program, Xerox solicited feedback from customers across numerous industries and geographies to gather unbiased opinions on deploying and using Xerox Managed Print Services. Recent reviews from Xerox’s global customer base include:
Xerox: MPS Partner of the Future
Xerox MPS – Excellence in Supporting our Fleet of MFDs on Campus
Xerox Products Are No Longer "Printing" They Are Transformational Tools
Visit the Xerox Management Print Services page for more information.
About Gartner Peer Insights
Gartner Peer Insights reviews constitute the subjective opinions of individual end users based on their own experiences and do not represent the views of Gartner or its affiliates.
The Gartner Peer Insights Customer First program constitutes an organization's commitment to solicit reviews from its customers using programmatic sourcing strategies and best practices. They neither represent the views of, nor constitute an endorsement by, Gartner or its affiliates.
polkamatic
3 years ago
PR: Xerox Acquires Competitive Computing (C2) to Grow Presence in IT Services Market for SMBs
https://finance.yahoo.com/news/xerox-acquires-competitive-computing-c2-170000088.html
Tue, October 5, 2021
NORWALK, Conn., October 05, 2021--(BUSINESS WIRE)--Xerox continues to expand its IT services business by acquiring Competitive Computing (C2). C2 serves customers throughout New England and the United States and has been recognized as "Best of Business" for IT services in Vermont for the past two years.
"We're focused on expanding the reach of Xerox IT services to offer our clients automation, digitization, and security to lower operating costs, increase reliability and improve productivity," said Joanne Collins Smee, chief commercial, SMB and channels officer at Xerox. "C2’s capabilities and scale will help accelerate our growth, creating new avenues for us to support growth for small and medium sized businesses."
"We are thrilled to join the Xerox IT Services team. After serving Vermont, New England, and national clients for over 28 years, our company and team members are ideally positioned to contribute to the growth of Xerox IT Services," said Marty Thieret, co-founder and CEO, Competitive Computing (C2). "Together with Xerox, we will broaden the portfolio of high value IT and business services for our expanding client base, offer tremendous employee growth opportunities, and continue investing in the Vermont community."
This acquisition continues Xerox’s commitment to expand its IT services business. Xerox acquired both ITEC Connect, a leader in IT services in the UK, and Digitex, an IT services provider in Canada, in March 2020. The global IT services market is sized at $350B+ annually.
About Xerox Holdings Corporation (NASDAQ: XRX)
For more than 100 years, Xerox has continually redefined the workplace experience. Harnessing our leadership position in office and production print technology, we've expanded into software and services to sustainably power today's workforce. From the office to industrial environments, our differentiated business solutions and financial services are designed to make every day work better for clients — no matter where that work is being done. Today, Xerox scientists and engineers are continuing our legacy of innovation with disruptive technologies in digital transformation, augmented reality, robotic process automation, additive manufacturing, Industrial Internet of Things and cleantech. Learn more at xerox.com.
polkamatic
3 years ago
Xerox Transfers Stock Exchange Listing from NYSE to Nasdaq
https://www.news.xerox.com/news/Xerox-Transfers-Stock-Exchange-Listing-From-NYSE-to-Nasdaq
Move provides greater alignment with company’s focus on standing up new businesses and monetizing innovation
SEP 09, 2021 — CORPORATE
NORWALK, Conn. —
Xerox Holdings Corporation announced today the company will transfer its common stock listing (XRX) from the New York Stock Exchange (NYSE) to the Nasdaq Global Select Market, effective upon market open September 21. The company will continue being listed under the ticker symbol “XRX” after the transfer occurs.
While Xerox continues to deliver workplace products and services for its network of global customers and partners, the company is leveraging its research and development capabilities to advance a variety of new technologies aimed at solving the world’s biggest challenges. Priority areas of focus include digital transformation, augmented reality,robotic process automation, additive manufacturing, Industrial internet of Things and cleantech.
“Xerox's focus on services, software, financing and innovation indicates the direction we're taking our business for the future. We’re challenging the status quo by developing and leveraging new innovations to create solutions that address major secular challenges across industries,” said John Visentin, vice chairman and chief executive officer at Xerox. “I want to thank the NYSE, our listing exchange for the last 60 years, for its partnership.”
“As a longstanding technology leader, Xerox is continuing to innovate and serve as a champion for its people, customers and shareholders,” said Adena Friedman, president and chief executive officer of Nasdaq. “Xerox’s listing on Nasdaq will allow them to continue creating value for all stakeholders. We’re proud to welcome them to the Nasdaq family.”
About Xerox Holdings Corporation (NASDAQ: XRX)
For more than 100 years, Xerox has continually redefined the workplace experience. Harnessing our leadership position in office and production print technology, we've expanded into software and services to sustainably power today's workforce. From the office to industrial environments, our differentiated business solutions and financial services are designed to make every day work better for clients — no matter where that work is being done. Today, Xerox scientists and engineers are continuing our legacy of innovation with disruptive technologies in digital transformation, augmented reality, robotic process automation, additive manufacturing, Industrial Internet of Things and cleantech. Learn more at xerox.com.
https://www.news.xerox.com
polkamatic
4 years ago
Xerox CEO and CFO to Speak at the J.P. Morgan Global Technology, Media and Communications Conference
XRX:Xerox CEO and CFO to Speak at the J.P. Morgan Global Technology, Media and Communications Conference
NORWALK, Conn.--(BUSINESS WIRE)--May 19, 2021--
Xerox Vice Chairman and CEO John Visentin and Executive Vice President and Chief Financial Officer, Xavier Heiss, will present at the J.P. Morgan Global Technology, Media and Communications Conference on May 24, 2021. The event will be available live via audio webcast.
WHEN:
Monday, May 24, 10:15 a.m. EDT
WHAT:
J.P. Morgan Global Technology, Media and Communications Conference
WHO:
John Visentin, vice chairman and chief executive officer, Xerox
Xavier Heiss, executive vice president and chief financial officer, Xerox
AUDIO:
https://jpmorgan.metameetings.net/events/tmc21/sessions/37963-xerox-corporation/webcast?gpu_only=true&kiosk=true or https://www.xerox.com/investor
Replay to be available.
About Xerox Holdings Corporation (NYSE: XRX)
For more than 100 years, Xerox has continually redefined the workplace experience. Harnessing our leadership position in office and production print technology, we’ve expanded into software and services to sustainably power today’s workforce. From the office to industrial environments, our differentiated business solutions and financial services are designed to make every day work better for clients — no matter where that work is being done. Today, Xerox scientists and engineers are continuing our legacy of innovation with disruptive technologies in digital transformation, augmented reality, robotic process automation, additive manufacturing, Industrial Internet of Things and cleantech.
Learn more at xerox.com.
Note: Xerox ® is a trademark of Xerox in the United States and/or other countries.
View source version on businesswire.com:https://www.businesswire.com/news/home/20210519005546/en/
CONTACT: Media Contact:
Callie Ferrari, APR, Xerox, +1-203-666-9331,Callie.Ferrari@xerox.comInvestor Contact:
Greg Stein, Xerox, +1-203-849-2324,Greg.Stein@xerox.com
KEYWORD: UNITED STATES NORTH AMERICA CONNECTICUT
INDUSTRY KEYWORD: TECHNOLOGY FINANCE BANKING OTHER TECHNOLOGY PROFESSIONAL SERVICES SOFTWARE INTERNET HARDWARE OTHER PROFESSIONAL SERVICES
SOURCE: Xerox
Copyright Business Wire 2021.
PUB: 05/19/2021 09:00 AM/DISC: 05/19/2021 09:02 AM
http://www.businesswire.com/news/home/20210519005546/en
polkamatic
5 years ago
Xerox secures $24 billion financing for proposed HP takeover
Xerox secures $24 billion financing for proposed HP takeover
(Reuters) - Xerox Holdings Corp said on Monday it has secured $24 billion in financing for its $33.5 billion takeover offer for HP Inc, a deal that the personal computer maker is opposing.
HP rejected the $22 per share offer in November saying it "significantly" undervalued the company, following which the printer maker took the offer directly to HP's shareholders.
Xerox has engaged in "constructive dialogue" with many of HP's largest shareholders, the company's chief executive officer, John Visentin, said in a letter addressed to HP's board on Monday.
"My offer stands to meet with you in person, with or without your advisors, to begin negotiating this transaction," Visentin said.
Activist investor Carl Icahn, who has a 4.2% stake in HP and a 10.9% stake in Xerox, in December urged HP shareholders who agreed with a merger with Xerox to reach out to the PC maker's directors for immediate action.
HP has said it will agree to a deal that involves the computer maker becoming the acquirer of Xerox, stating that it recognizes the potential benefits of consolidation.
Shares of HP were up nearly 2% in trading before the bell. The company did not immediately respond to a Reuters request for comment.
(Reporting by Ayanti Bera and Neha Malara in Bengaluru; Editing by Saumyadeb Chakrabarty)
Xerox secures $24 billion financing for proposed HP takeover
polkamatic
5 years ago
Xerox Woos HP Holders With $1.5 Billion Sales Growth Target
Scott Deveau,Bloomberg•December 9, 2019
(Bloomberg) -- Xerox Holdings Corp. believes its proposed HP Inc. takeover would create as much as $1.5 billion in potential revenue growth, according a presentation to HP’s shareholders made public Monday.
The printer maker outlined its case for a tie-up between the companies, arguing the combined firm will be worth about $31 a share to HP investors on a pro-forma basis. The merged entity will generate more than $4 billion in free cash flow in the first year before taking any synergies into account, according to the presentation, confirming a report in Bloomberg News.
“The value of the transaction goes beyond economics. In consolidating industries, first movers not only win but also have an opportunity to reshape the competitive landscape in an enduring way,” John Visentin, Xerox’s chief executive officer, said in the presentation.
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https://finance.yahoo.com/news/xerox-woo-hp-investors-1-133001141.html
techisbest
6 years ago
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https://finance.yahoo.com/news/xerox-becomes-fallen-angel-moody-223107334.html
(Bloomberg) -- Xerox Corp. is the newest addition to the set of companies downgraded to junk from investment grade.
After being downgraded by Fitch Ratings in August, Moody’s Investors Service followed suit Friday, citing an uncertain revenue base amid a decline in demand for copy and printing services as well as intense global competition.
The company is also on review for a downgrade by S&P Global Ratings, with their watch period ending within the next 10 days.
The company’s notes due in 2021 widened 56 basis points to 300 above Treasuries in Friday’s session, according to Trace price data, and were the most active in the investment-grade market. The cost to protect against losses on Xerox debt also jumped, reaching the highest level since 2009. Credit-default swaps on the company widened 33 basis points to 349, data from CMA show.
Investors are worried about a flood of “fallen angels,” or investment-grade credits that fall into junk. There are concerns that a number of BBB rated companies, the lowest-rated rung of the high-grade space, may become subject to downgrades when the cycle turns as several have spent much of the last decade issuing debt to take advantage of low borrowing costs.
In October, Bloomberg Intelligence analysts Robert Schiffman and Mike Campellone cited concerns over secular declines and execution challenges at Xerox that were unlikely to dissipate in the near-term. “Ratings pressure is likely to persist, with additional non-investment grade risk growing each quarter,” they said.
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