Xerox Acquires LaserNetworks of Canada
Acquisition Expands Print Services Capabilities Across Canada
TORONTO - Xerox Corporation (NYSE: XRX) today announced it has acquired LaserNetworks, a leading managed print services (MPS) provider in Canada that helps businesses cut costs and reduce the time employees spend on print-related activities.
Based in Oakville, Ontario, LaserNetworks provides MPS solutions that include print device tracking, centralized service and supply management and document routing.
"Our acquisition of LaserNetworks expands our services footprint in Canada, enhancing our capabilities and distancing us from our competitors. It is further evidence of Xerox's transformation into a services-led, technology-driven company," said Mandy Shapansky, president and CEO, Xerox Canada.
LaserNetworks currently provides support services for more than 40,000 print-related devices in offices across Canada. It will operate as a wholly-owned subsidiary of Xerox Canada with LaserNetworks founder and CEO Chris Stoate continuing to lead the company, reporting to Shapansky. The company employs 189 people in sales, services and business operations.
"By becoming part of such an esteemed company with well respected industry leadership, we exponentially increase our ability to deliver more customer value," said Stoate. "We're combining our collective industry expertise and innovative technologies to help our clients take full advantage of the benefits managed print services bring to their workplaces."
Xerox Corporation is a $22.5 billion leading global enterprise for business process and document management. Through its broad portfolio of technology and services, Xerox provides the essential back-office support that clears the way for clients to focus on what they do best: their real business. Headquartered in Norwalk, Conn., Xerox provides leading-edge document technology, services, software and genuine Xerox supplies for graphic communication and office printing environments of any size. Through ACS, A Xerox Company, which Xerox acquired in February 2010, Xerox also offers extensive business process outsourcing and IT outsourcing services, including data processing, healthcare solutions, HR benefits management, finance support, and customer relationship management services for commercial and government organizations worldwide. The 134,000 people of Xerox serve clients in more than 160 countries. . For more information, visit http://www.xerox.com, http://news.xerox.com, http://www.realbusiness.com or http://www.acs-inc.com. For investor information, visit http://www.xerox.com/investor.
For information about Xerox Canada visit http://www.xerox.ca.