M&A - Xerox Holdings Corp

Form Type: ARS

Filing Date: 2025-04-09

Corporate Action: Acquisition

Type: New

Accession Number: 000177045025000018

Filing Summary: In the 2024 Annual Report, Xerox Holdings Corporation outlined its significant progress under its 'Reinvention' strategy, emphasizing the acquisition of ITsavvy and the planned acquisition of Lexmark. The acquisitions are anticipated to improve financial flexibility, enhance the IT Solutions business, and increase revenue and profit share in the IT infrastructure market. Xerox achieved its target of $200 million in gross cost savings while improving operational efficiency despite prior operational challenges. For 2025, the focus will be on executing over 100 initiatives alongside realizing benefits from the ITsavvy acquisition and the integration of Lexmark, anticipated to yield over $200 million in synergies. Moreover, the company noted a reduction in its annual dividend from $1 per share to $0.50, aiming to strengthen its balance sheet while returning cash to shareholders. The report also highlighted a continued emphasis on workplace transformation as businesses adapt to hybrid work environments.

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