Xerox Names Spinoff for Business Process Outsourcing “Conduent”
Xerox has disclosed the names of the new companies that are being created following the completion of its separation into two publicly traded companies.
On January 29, 2016, Xerox announced plans to separate into two independent companies: a document technology company and a business process outsourcing company. Xerox expects to complete the separation by year-end 2016.
The document technology company will continue to be called Xerox Corporation, retaining the brand name which is recognized globally - originally for copying - and now for digital technology, software and services. The business process outsourcing company will be named Conduent, Inc.
With approximately $11 billion in 2015 revenue and approximately 39,000 employees, Xerox will be a Fortune 500-scale company with a portfolio of hardware, software, and services spanning document and content technology and applications, managed print services and workflow solutions to support governments and commercial enterprises.
According to Xerox, the name of the new company, Conduent, is inspired by the new company’s expertise in “connecting clients and their constituents through seamless transactions at massive scale in areas such as customer care, transportation solutions, and healthcare payer and provider services.”
With approximately $7 billion in 2015 revenue and 96,000 employees worldwide, the new standalone entity, Conduent, will also be a Fortune 500-scale company, with offerings in transaction-intensive processing, analytics, and automation.
For more information, go to www.xerox.com.
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