The OEM has allocated $100 million (€93 million) for future mergers and acquisitions.
West Fair reported that according to Bill Osbourn, Chief Financial Officer at Xerox, the money has been put aside so that the company have funds to “to convert more multi-branded dealers here and abroad into Xerox-exclusive agents and to be more involved with new technologies”.
The announcement was made during the company’s fourth quarter conference, and Osbourn said: “Historically we have had very good returns in (buying multi branded resellers). We have paid a multiple in the range of one times revenue and we look, to the extent that they are the right opportunities in doing those type of acquisitions in 2017 and beyond, not only in the US but internationally.”
Last year Xerox acquired Dallas based ASI Business Solutions, although the price was not disclosed, but CEO Jeff Jacobson commented that “acquiring technologies or businesses that would help Xerox get into the $60 billion to $65 billion (€55.8 billion to €60.5 billion) commercial offset print and packaging space could be a priority this year”.