Pulse2 Technology and Social Media News » Xerox

Xerox Corporation Suing Yahoo! and Google Over Search-Related Patents

Amit Chowdhry — Tue, 23 Feb 2010 20:44:47 +0000

Xerox Corporation (NYSE:XRX) is suing Yahoo! Inc. (NASDAQ:YHOO) and Google Inc. (NASDAQ:GOOG) over a patent-infringement. Xerox claims that they have ownership over a method in which a query is generated based on keyword searches. Xerox specifically called out Google AdSense, Google AdWords, Yahoo!’s Search Marketing, Yahoo!’s Publishing Network, and Y!Q Contextual Search. Xerox also owns a patent where pages are updated based on reviews. Xerox pointed out that Google Maps, YouTube, Google Video, and Yahoo! Shopping use this technology for their services. Google’s senior litigation counsel Catherine Lacavera said that “these claims are without merit and we will defend against them vigorously.” The court case was filed at the U.S. District Court for the District of Delaware. [Bloomberg]

Xerox Corp. Closes On $2 Billion Of Senior Unsecured Notes

Amit Chowdhry — Mon, 07 Dec 2009 02:00:41 +0000

Earlier this week Xerox Corporation (NYSE:XRX) closed on a $2 billion offering of senior unsecured notes. About $1 billion of the notes will mature in February 2015 with an interest at a fixed rate coupon of 4.25%. Around $650 million will mature in December 2019 at 5.625%, $350 million will mature in December 2039 at 6.75%.

Some of the proceeds of the offering will be used with the acquisition of Affiliated Computer Services. Xerox bought outsourcing firm ACS for $5.5 billion this past September.

“This successful financing reflects investors’ confidence in the strength of Xerox’s financial position and in the acquisition of Affiliated Computer Services, which will increase Xerox’s already strong free cash flow and enhance our annuity-based business model,” stated Xerox Vice Chairman and CFO Lawrence A. Zimmerman.

Xerox Acquires Outsourcing Firm Affiliated Computer Services (ACS) For $5.5 Billion

Amit Chowdhry — Tue, 29 Sep 2009 03:14:07 +0000

Xerox Corporation (NYSE:XRX) is getting into the IT consulting market by acquiring Affiliated Computer Services Inc. (NYSE:ACS) for $5.5 billion. The deal was made in cash and stock. This was one of the first major moves made by Ursula Burns, the current CEO of Xerox. This move is in direct competition with Dell’s recent acquisition of Perot Systems and HP’s acquisition of EDS.

After the acquisition was announced, Xerox’s shares fell 14.48% to $7.68. Xerox bought Global Imaging Services (GIS) for $1.5 billion in April 2007. Xerox has been able to efficiently integrate both companies together since then. So it is surprising that the stock price dropped.

Xerox has about $1 billion in cash and said that $3 billion of the deal will be financed through capital markets. If the deal ends up being terminated by Xerox, then ACS will be compensated $235 million. If ACS terminates the deal, Xerox will be paid $194 million.

Xerox Unveils Solid Ink Color Printer – ColorQube 9200

Shan Sadiq — Thu, 07 May 2009 22:12:12 +0000

Xerox introduced a new solid ink color printer today. According to the company, solid ink can help reduce color page costs by 62%. The technology is featured in their ColorQube 9200 printer. The printer can output up to 85 color pages per minute. Its price starts at over $23,000.

The solid ink printer uses color sticks instead of ink cartridges or toner cartridges. The sticks are solid at room temperature but melt inside the printer. The color sticks are eco-friendly and easy to install.

The technology is targeted at enterprise users. Xeros already sells a consumer solid ink printer (Phaser 8560) but their focus is companies and offices. The consumer printer market is too competitive.