Xerox Acquires ITsavvy To Grow IT Services Presence For $400M
Portfolio Pulse from Benzinga Newsdesk
Xerox Holdings Corporation has announced its acquisition of ITsavvy for $400 million, aiming to expand its IT services. The deal includes a $180 million cash payment and $220 million in promissory notes, subject to adjustments. The acquisition is expected to close in Q4 2024, pending merger clearance.
October 17, 2024 | 1:11 pm
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Xerox is acquiring ITsavvy for $400 million to enhance its IT services, with the deal expected to close in Q4 2024. This strategic move could strengthen Xerox's market position in IT services.
The acquisition of ITsavvy is a strategic move for Xerox to expand its presence in the IT services sector. The $400 million deal, expected to close in Q4 2024, indicates a significant investment in growth. This could positively impact Xerox's stock as it strengthens its market position.
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