36 Facts About Xerox


Xerox Holdings Corporation is an American corporation that sells print and digital document products and services in more than 160 countries.

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Xerox is headquartered in Norwalk, Connecticut, though it is incorporated in New York with its largest population of employees based around Rochester, New York, the area in which the company was founded.

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On December 31, 2016, Xerox separated its business process service operations, essentially those operations acquired with the purchase of Affiliated Computer Services, into a new publicly traded company, Conduent.

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Xerox focuses on its document technology and document outsourcing business, and traded on the NYSE from 1961 to 2021, and the Nasdaq since 2021.

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Xerox was founded in 1906 in Rochester, New York, as The Haloid Photographic Company.

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Xerox saw the promise of Carlson's invention and, in 1946, signed an agreement to develop it as a commercial product.

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In 1963, Xerox introduced the Xerox 813, the first desktop plain-paper copier, realizing Carlson's vision of a copier that could fit on anyone's office desk.

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In 1969, Xerox acquired Scientific Data Systems, which it renamed the Xerox Data Systems (XDS) division and which produced the Sigma line and its successor XDS 5xx series of mainframe computers in the 1960s and 1970s.

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In 1979, Xerox purchased Western Union International as the basis for its proposed Xerox Telecommunications Network (XTEN) for local-loop communications.

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Xerox was revived in the 1980s and 1990s, through improvement in quality design and realignment of its product line.

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In 1990, Xerox released the DocuTech Production Publisher Model 135, ushering in print-on-demand.

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Xerox worked to turn its product into a service, providing a complete document service to companies including supply, maintenance, configuration, and user support.

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Xerox's turnaround was largely led by Mulcahy, who was appointed president in May 2000, CEO in August 2001 and chairman in January 2002.

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Xerox's launched an aggressive turnaround plan that returned Xerox to full-year profitability by the end of 2002, along with decreasing debt, increasing cash, and continuing to invest in research and development.

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In 2000, Xerox acquired Tektronix color printing and imaging division in Wilsonville, Oregon, for US$925 million.

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XMPie, a provider of software for cross-media, variable data one-to-one marketing, was the first acquisition of Xerox to remain independent entity, as a Xerox company and not a division, and to this day is led by its original founder Jacob Aizikowitz.

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On September 28, 2009, Xerox announced the intended acquisition of Affiliated Computer Services, a services and outsourcing company, for $6.

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In December 2013, Xerox sold their Wilsonville, Oregon solid ink product design, engineering and chemistry group and related assets previously acquired from Tektronix to 3D Systems for $32.

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In December 2014, Xerox sold the IT Outsourcing business it had acquired in 2009 from Affiliated Computer Services to Atos for $1.

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On January 31, 2018, Xerox announced that Fujifilm had agreed to acquire a 50.

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In November 2019, Xerox began to pursue a hostile takeover of PC and printer manufacturer HP Inc, declaring its intent to "engage directly" with shareholders after HP rejected two unsolicited bids for the company.

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Xerox stated in January 2020 that it would pursue the replacement of HP's board.

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In February 2020, Xerox announced the hiring of Tali Rosman as VP of Xerox's 3D business.

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Xerox's joins Xerox from NICE, where she was vice president and head of business operations for the Americas.

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In September 2020, Xerox opened its North Carolina Center of Excellence in Cary, North Carolina.

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In September 2021, Xerox announced it was transferring its stock ticker from the New York Stock Exchange to the Nasdaq after 60 years.

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Xerox management was afraid the product version of Starkweather's invention, which became the 9700, would negatively impact their copier business so the innovation sat in limbo until IBM launched the 3800 laser printer in 1976.

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Xerox obtained a majority stake in 1999 and aims to buy out the remaining shareholders.

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European company Rank Xerox, later extended to Asia and Africa, has been fully owned by Xerox Corporation since 1997.

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On May 31, 2001, Xerox Corporation announced that its auditors, KPMG LLP, had certified Xerox's financial statements for the three years ended December 31, 2000; the financials included some restatements.

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On March 31, 2002, Xerox restated its financials which reflected the reallocation of equipment sales revenue of more than $2 billion.

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The complaint alleged Xerox deceived the public between 1997 and 2000 by employing several "accounting maneuvers, " the most significant of which was a change in which Xerox recorded revenue from copy machine leases – recognizing a "sale" when a lease contract was signed, instead of recognizing revenue over the entire length of the contract.

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On December 20, 2002, Xerox Corporation reported that it had discovered an error in the calculation of its non-cash interest expense related to a debt instrument and associated interest rate swap agreements, resulted in after-tax understatement of interest expense of approximately $5 million to $6 million or less than 1 cent per share in each of the four quarters of 2001 and for the first three quarters of 2002.

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Xerox received approval to settle the securities lawsuit in 2008.

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Xerox is engaged in an ongoing advertising and media campaign to convince the public that Xerox should not be used as a verb.

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Xerox Corporation continues to protect its trademark in most if not all trademark categories.

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