Copy this.
On Friday, Xerox announced that it's splitting into two companies — its Document Technology printing/copying operations and Business Process Outsourcing (BPO), created to make business solutions flow easily.
"Today Xerox is taking further affirmative steps to drive shareholder value by announcing it will separate into two strong, independent, publicly traded companies," Ursula Burns, chairwoman and CEO of Xerox, said in the company's press release statement. "These two companies will be well positioned to lead in their respective rapidly evolving markets and capitalize on the opportunities that now exist to expand margins and increase market share."
The Document Technology company, which will focus on printers and copiers, will have $11 billion in annual revenue, with the BPO having $7 billion. The BPO will concentrate on innovative ways to automate and simplify business.
The latter company will also see investor Carl Icahn occupying three board seats after revealing a stake in Xerox this past November.
He tweeted Friday: "We believe the separation will greatly enhance value for Xerox shareholders."
So, what's Xerox's strategy behind the split into two separate companies?
According to its press release, Xerox wanted to be more flexible, able to "innovate and adapt technology to address clients' fast-evolving needs."
Xerox believes sparking creation opportunities will lead to more business overall.
