Xerox completes third acquisition in 14 months

Xerox Holdings Corp. has acquired a Southern California document solutions provider. Financial details of the transaction were not disclosed.

Document Systems Inc. has worked with business leaders in Ventura, Santa Barbara and Los Angeles counties since 1994. The company will become part of Xerox Business Solutions (XBS), aligned to the XBS West region, and provide Xerox solutions targeted at small and midsize businesses (SMBs) that support collaboration, communication, remote IT support, security and automation, officials said in a statement Wednesday.

“We’re focused on strengthening our U.S. small and midsize business market reach through the combined power of our portfolio of workplace solutions for SMBs and well-established local technology providers,” said Joanne Collins Smee, chief commercial, SMB and channels officer at Xerox. “As part of Xerox Business Solutions, Document Systems’ document management expertise will help us elevate the customer experience, improve productivity and power growth for SMBs.”

SMBs turned to automation, digitization and security to emerge stronger from the pandemic, according to Xerox’s State and Fate of Small and Medium Business survey. Eighty-five percent were more reliant than ever before on communication technologies, remote IT support and security hardware and software, according to the survey.

This is Xerox’s third acquisition in North America in the last year, following the purchase of Groupe CT last month and Digitex in March 2020 to expand to the eastern and western Canadian markets, respectively.

Shares of company stock (NYSE: XRX) closed Tuesday at $23.42 and by Thursday mid-morning had increased to $23.83.

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Xerox acquires Canadian document management company

Xerox Holdings Corp. has acquired a Canadian document management provider. Financial details of the acquisition were not disclosed.

Groupe CT Inc. was founded in Laval, Quebec, and has worked in the printing technology industry for more than three decades.

“We’re continuing to grow our presence in the North America small and midsize business (SMB) market,” said Mike Feldman, president of Americas Operations and Global Document Services for Xerox. “With Groupe CT’s document management services expertise and leadership, combined with our portfolio of workplace solutions, we’re well placed to serve SMBs focused on accelerating a digital transformation roadmap.”

This is Xerox’s second acquisition targeting the Canadian SMB market in the last year. In March 2020, Xerox announced the purchase of Digitex, the largest independent services, software and technology provider in Western Canada.

“SMBs play a crucial role in Canada’s economy. We are committed to helping Canadian SMBs survive and thrive in the current climate and beyond,” said Xerox’s Canadian Operations President Martin Bachant. “They need tailored solutions and to work with local market experts such as Groupe CT and Digitex, who understand their requirements and can support their growth.”

Groupe CT President Tomy Belanger said the company’s ambition is to provide the latest innovation and technologies to help Canadian businesses work smart.

“Together with Xerox, we’re in pole position to offer secure and sustainable solutions that support a dispersed and hybrid workforce,” Belanger said.

[email protected] / 585-653-4021
Follow Velvet Spicer on Twitter: @Velvet_Spicer