Xerox caps off COVID-crushing year with business split plans
Xerox Holdings is to carve up its entire business next year off the back of a 22.7 per cent fall in revenue last year.
Xerox Holdings is to carve up its entire business next year off the back of a 22.7 per cent fall in revenue last year.
HP New Zealand recorded a small increase in sales for the year ended 31 October, 2019, but a lower net profit.
Xerox Holdings has decided to withdraw its tender offer to acquire HP and drop its efforts to influence the target company’s board, citing the “turmoil” caused by COVID-19.
HP doesn’t want to divert its “valuable time, attention and resources” to a dialogue with Xerox about its proposed takeover bid amid the COVID-19 pandemic.
Xerox, which is in a proxy fight for control of HP, has said it would postpone meetings with shareholders of the personal computer maker amid the coronavirus outbreak.
"The worldwide production market saw gains as print service providers across the globe are investing in digital."
Imagine how different the computing world would be if IBM had used proprietary chips in the original PC, rather than off-the-shelf components. The PC clone market would never have happened, and IBM, rather than Microsoft, might have emerged as the leading company of the computer revolution.