Yes you heard that right, the Japanese company Fujifilm is buying Xerox. The legacy brand Xerox, whose copier machines has dominated the space for nearly half a century is being sold to the mega Japanese company. Reports say that the sale is being made as a measure for Fujifilm to advance the companies digital solutions division. Consolidation of R&D, procurement and other operations would enable Fuji Xerox to deliver at least $1.7 billion in total cost savings by 2022, the two companies said.
Fujifilm currently owns a 75% stake of Xerox, so this deal will make total ownership by the Japanese company complete. The name Fuji Xerox will remain.