July 16, 2018
The OEM is considering selling its financial lease unit, following the breakdown of its proposed multibillion dollar merger with Fujifilm.
The company’s leasing unit “lends money to customers to rent printers and equipment” and its sale could help Xerox unburden itself of approximately $3.6 billion (€3.07 billion) worth of debt, as US News reports.
However, no final decision has yet been made regarding the sale, and Xerox has declined to comment on the matter.
Following the termination of its well-documented deal with Fujifilm, Xerox became embroiled in a bitter war of words with Fujifilm management, as well as a legal battle when Fujfilm opted to file a lawsuit in June.
Both Xerox and Fujifilm have also issued threats, with Xerox cautioning that it may not renew its technology agreement with Fujifilm, and Fujifilm vowing it will compete with Xerox in the Asia-Pacific region and possibly America and Europe if the agreement is not renewed.
Meanwhile, Xerox has been approached by Apollo Global Management earlier this year, expressing interest in a possible acquisition, and Xerox has stated that it is “exploring its strategic options” now that the Fujfiilm deal has fallen through.
Categories : Around the Industry