June 17, 2016
Xerox has announced the names of the new companies that will be created following the completion of its separation into two publicly traded companies. The Business Process Outsourcing company will be named “Conduent, Inc.” and the Document Technology company will continue to be called Xerox Corporation.
“Conduent will begin its next chapter as a standalone company with a name that conveys the vital business we conduct every day,” said Ursula Burns, chairman and chief executive officer of Xerox. “Conduent is well-positioned to build on its strong heritage as a leader in business process services and will carry forward the values and culture of innovation, diversity and integrity from Xerox.”
With approximately $7 billion in 2015 revenue and 96,000 employees worldwide, Conduent will be a Fortune 500 scale business process services company with expertise in transaction-intensive processing, analytics and automation.
The company also announced that the Document Technology company will retain the Xerox brand name, which is known “globally for revolutionizing the way the world communicates – originally through copying, now through digital technology, software and services.”
With approximately US$11 billion in 2015 revenue and approximately 39,000 employees, Xerox will be a Fortune 500 scale company with a e portfolio of hardware, software and services supporting governments and commercial enterprises from small to large.