Xerox up on deal to buy ITsavvy for $400 million

Xerox Holdings

17/10/2024 15:00

** Shares of office equipment maker Xerox Holdings  XRX.O 
up 1.5% at $10.64
    ** Company to buy ITsavvy, Illinois-based IT products and
associated services firm, for $400 million
    ** XRX says the transaction is expected to close during the
fourth quarter of 2024 and remains subject to merger clearance
control
    ** ITsavvy is a portfolio company of GenNx360 Capital
Partners, a New York-based private equity firm
    ** The deal is expected to be immediately accretive to XRX's
adjusted earnings per share and free cash flow
    ** Up to Wednesday's close, stock had fallen nearly 43% so
far this year

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; X: https://twitter.com/AnanyaMariam))