Xerox Snaps Up ITsavvy For $400M, Expanding Its Footprint In IT Infrastructure
Portfolio Pulse from Nabaparna Bhattacharya
Xerox Holdings (NASDAQ:XRX) is acquiring ITsavvy for $400 million to expand its IT infrastructure capabilities. The acquisition is expected to be accretive to earnings and free cash flow, with the transaction closing in Q4 2024. XRX shares rose 4.25% following the announcement.
October 17, 2024 | 5:18 pm
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POSITIVE IMPACT
Pacer US Small Cap Cash Cows 100 ETF (CALF) provides exposure to Xerox, which is acquiring ITsavvy. The acquisition is expected to be accretive to Xerox's earnings.
CALF ETF includes Xerox, which is positively impacted by the ITsavvy acquisition. The deal is expected to enhance Xerox's earnings, indirectly benefiting CALF investors.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Small Cap US Equity Select ETF (RNSC) includes Xerox, which is acquiring ITsavvy. The acquisition is expected to be accretive to Xerox's earnings.
RNSC ETF holds Xerox, which is positively impacted by the ITsavvy acquisition. The deal is expected to enhance Xerox's earnings, indirectly benefiting RNSC investors.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Xerox is acquiring ITsavvy for $400 million, enhancing its IT services capabilities. The acquisition is expected to be accretive to earnings and free cash flow, with shares rising 4.25% on the news.
The acquisition of ITsavvy is a strategic move for Xerox to diversify its revenue streams and enhance its IT services capabilities. The market reacted positively, with a 4.25% increase in share price, indicating investor confidence in the deal's potential to improve earnings and cash flow.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100