Xerox acquires Ohio-based company

Velvet Spicer//May 15, 2017//

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Xerox Corp.’s Global Imaging Systems has acquired MT Business Technologies, a Mansfield, Ohio-based multibrand dealer that provides office equipment, productivity products and services, and managed print services to organizations in Ohio and Michigan.

Financial details of the agreement were not disclosed, but Xerox officials said the company is focused on enhancing and expanding its channel reach, particularly in the $20 billion multibrand reseller space.

“We’re joining forces with one of Ohio’s most respected office solutions companies,” said Michael Pietrunti, Xerox’s senior vice president of acquisitions. “This gives us the opportunity to expand our local network and generate increased revenue, while also providing more customers with industry-leading technology and innovative services to meet today’s business needs.”

MT Business Technologies president Chuck Rounds is to remain president after the acquisition, officials said. He has been with the firm since 2000.

In April, Xerox reported first-quarter net income attributable to Xerox of $16 million, or 2 cents a share, versus net income of $34 million, or 6 cents a share, during last year’s first quarter. Revenues were $2.45 billion in the quarter, down 6.2 percent from $2.62 billion.

Xerox employs some 3,900 people in Monroe County.

Shares of company stock (Nasdaq: XRX) were trading up slightly at $7.11 in midday activity.

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