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Xerox India is the Indian subsidiary of Xerox Corporation, based in Gurgaon, India the American printer, photocopier, document supplies, technology & services company.
Face Value: Rs 10 Per Equity Share
Sector: Printing & Stationary
The primary offerings span three main areas: Managed Document Services, Workplace Solutions, and Graphic Communications.
Xerox is a print technology and intelligent work solutions leader focused on helping people communicate and work better. They have expertise in Imaging and Printing, Data analytics, and the development of secure and automated solutions to help our customers improve productivity and increase client satisfaction.
Originally Modi Xerox, the business was derived from a joint venture formed between Dr Bhupendra Kumar Modi aka Dr. M through ModiCorp (now Spice Group) and Rank Xerox in September 1983. The share structure was 40% ModiCorp, 40% Rank Xerox and 20% private shareholders. It built upon an earlier co-operation, Indian Xerographic Systems, formed in 1982. Other partnerships included Modi Xerox Software Systems, created in 1995 and Modi Xerox Financial Services.
Rank Xerox was absorbed into Xerox Corporation in 1997 and Xerox obtained a majority stake in Modi Xerox in 1999. After obtaining majority ownership of Modi Xerox, it was renamed Xerox ModiCorp and the software and financial services operations were incorporated into the main business.
HCL Technologies announced that it has signed a managed services agreement with Xerox worth USD 1.3 billion over multiple years. This seven-year agreement for an incremental USD 1.3 billion continues to build on the success of the Xerox-HCL relationship, which began in 2009 with product engineering and support services.
As part of the existing agreement, HCL manages Xerox’s mechanical, electrical and software engineering activities for printer and imaging product lines. Together, HCL and Xerox have delivered 215 US patents and have created R&D labs that are integrated with Xerox infrastructure and standards. The agreement between HCL and Xerox will also see a group of Xerox employees being transferred to HCL, subject to compliance with European works council consultation and employment regulatory requirements.