Xerox, the global copier and imaging giant, will pay US$6,4bn to acquire the outsourcing company Affiliated Computer Services, expanding its foothold in a growing industry, The New York Times reports.
Xerox is paying $63.11/share in cash and stock for ACS, which posted revenue growth of 6% and new business signings of $1bn in annual recurring revenue during its fiscal 2009.
“We’re creating a new class of solution provider,” Xerox’s chief executive, Ursula Burns, said in a statement, adding that the deal was “a game-changer for Xerox.” She estimated the company’s revenue from services would triple to $10bn next year from $3,5bn in 2008.