Xerox has set up a new Office Printing Business (OPB) to house both its own colour printing and imaging technology and that of its Textronix acquisition.
The purchase of Tektronix' family of Phasera colour laser and solid ink printers, which last year generated sales of nearly $725 million, will propel Xerox into the number two position in the global colour printing market behind Hewlett-Packard.
The deal, which closed on Monday, is intended to boost the firm's presence in the office sector and will nearly double its distribution capacity to more than 16,000 resellers and dealers worldwide. The company will likewise gain access to more than 430 Tektronix patents in solid ink and imaging science.
But Xerox claimed that it paid less than the original $925 million purchase price for Tektronix due to balance sheet adjustments, shaving $25 million off the bill.
Rick Thoman, Xerox's chief executive, said: "This acquisition, the largest of its kind in Xerox's history, combines the strength of the Xerox brand, the breadth of our product line and our global reach with the technical excellence, distribution capability and the time to market focus of Tektronix."
Xerox now plans to introduce several new colour and monochrome network printers, extend its three year Total Satisfaction Guarantee to all new eligible Xerox and Tektronix printers, and launch a multimillion dollar worldwide advertising campaign. It will also share technology across its research and development groups.
According to IDC, the expanded Xerox office printing unit will have control of more than 30 per cent of the office colour printing market, which it estimates will grow at an annual compound rate of about 23 per cent through 2003.
Cotton seedling freezes to death as Chang'e-4 shuts down for the Moon's 14-day lunar night
Fortnite easily out-earns PUBG, Assassin's Creed Odyssey and Red Dead Redemption 2 in 2018
Meteor showers as a service will be visible for about 100 kilometres in all directions
Saturn's rings only formed in the past 100 million years, suggests analysis of Cassini space probe data
New findings contradict conventional belief that Saturn's rings were formed along with the planet about 4.5 billion years ago