Xerox Acquires Groupe CT To Extend North American SMB Presence

Xerox Holdings Corp XRX acquired Eastern Canada’s independent document management provider Groupe CT to expand its presence in the North American small and midsize business (SMB) market, Xerox President Mike Feldman said.
Xerox acquired Western Canada’s independent services, software, and technology provider Digitex in March 2020.
The financial terms of the transaction were not disclosed.
Groupe CT’s document management services expertise and leadership combined with Xerox’s portfolio of workplace solutions rendered Xerox as well placed to serve SMBs focused on fast-tracking of digital transformation roadmap, stated Feldman.
Xerox held $2.4 billion in cash and equivalents as of Mar. 31, 2021.
Price action: XRX shares traded higher by 1.17% at $24.66 on the last check Monday.

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