Fujifilm, Xerox throw each other a US$6.1 billion lifeline

We'll buy the J/V from you so you can use the cash to buy us, goddit?


Fujifilm has announced a $US6.1 billion deal to take control of troubled Xerox.

It's a complex deal: the Fuji Xerox joint venture (75 per cent owned by Fujifilm) will spend $US6.1 billion buying Fujifilm's stake in the J/V, and Fujifilm will use those billions to buy a 50.1 per cent stake in Xerox.

The combined company will have revenue of $18 billion, and the companies believe they'll be able to trim costs by around $1.7bn by 2022.

Reuters reported that Fujifilm has already announced layoffs of around 10,000 among its Asia-Pacific staff.

The two companies are suffering in a printer photocopier market that's suffered thanks to the getting-closer-every-year paperless office. Announcing the deal, Fujifilm said the new entity will “transform itself into a lean company” which will "become a world-leading document solution company".

Last week, activist investors Carl Icahn and Darwin Deacon demanded changes at the top of Xerox and the dissolution of the 50-year-old Fuji Xerox joint venture as a response to an accounting scandal in 2017. This may not be quite the change they wanted!

Two winners from the deal are Shigetaka Komori, current chair of Fuji Xerox and Fujifilm and also COO of Fujifilm, who will chair the board of the new company; and Xerox CEO Jeff Jacobson, who will be CEO of the new company.

Xerox shareholders will get a $2.5bn sweetener with the deal, in the form of a special cash dividend.

Xerox subsidiary Parc – once the Xerox Palo Alto Research Center, famous inventor of most of modern computing – doesn't get a mention in the Fujifilm/Xerox announcement. Perhaps that's a good thing. ®


Other stories you might like

  • Assange can go to UK Supreme Court (again) to fend off US extradition bid

    Top Brit judges may consider whether an American prison is just too much

    Julian Assange has won a technical victory in his ongoing battle against extradition from the UK to the United States, buying him a few more months in the relative safety of Her Majesty's Prison Belmarsh.

    Today at London's High Court, the Lord Chief Justice of England and Wales Lord Burnett approved a question on a technical point of law, having refused Assange immediate permission to appeal to the UK Supreme Court. The WikiLeaker's lawyers had asked for formal permission to pose this legal conundrum about Assange's likely treatment in US prisons to the Supreme Court:

    Continue reading
  • They see us Cinnamon Rolling, they're rating: GeckoLinux incorporates kernel 5.16 with familiar installation experience

    A nice, clean community distro that works well

    Most distros haven't got to 5.15 yet, but openSUSE's downstream project GeckoLinux boasts 5.16 of the Linux kernel and the latest Cinnamon desktop environment.

    Some of the big-name distros have lots of downstream projects. Debian has been around for decades so has umpteen, including Ubuntu, which has dozens of its own, including Linux Mint, which is arguably more popular a desktop than its parent. Some have only a few, such as Fedora. As far as we know, openSUSE has just the one – GeckoLinux.

    The SUSE-sponsored community distro has two main editions, the stable Leap, which has a slow-moving release cycle synched with the commercial SUSE Linux Enterprise; and Tumbleweed, its rolling-release distro, which gets substantial updates pretty much every day. GeckoLinux does its own editions of both: its remix of Leap is called "GeckoLinux Static", and its remix of Tumbleweed is called "GeckoLinux Rolling".

    Continue reading
  • Running Windows 10? Microsoft is preparing to fire up the update engines

    Winter Windows Is Coming

    It's coming. Microsoft is preparing to start shoveling the latest version of Windows 10 down the throats of refuseniks still clinging to older incarnations.

    The Windows Update team gave the heads-up through its Twitter orifice last week. Windows 10 2004 was already on its last gasp, have had support terminated in December. 20H2, on the other hand, should be good to go until May this year.

    Continue reading
  • Throw away your Ethernet cables* because MediaTek says Wi-Fi 7 will replace them

    *Don't do this

    MediaTek claims to have given the world's first live demo of Wi-Fi 7, and said that the upcoming wireless technology will be able to challenge wired Ethernet for high-bandwidth applications, once available.

    The fabless Taiwanese chip firm said it is currently showcasing two Wi-Fi 7 demos to key customers and industry collaborators, in order to demonstrate the technology's super-fast speeds and low latency transmission.

    Based on the IEEE 802.11be standard, the draft version of which was published last year, Wi-Fi 7 is expected to provide speeds several times faster than Wi-Fi 6 kit, offering connections of at least 30Gbps and possibly up to 40Gbps.

    Continue reading
  • Windows box won't boot? SystemRescue 9 may help

    An ISO image you can burn or drop onto a USB key

    The latest version of an old friend of the jobbing support bod has delivered a new kernel to help with fixing Microsoft's finest.

    It used to be called the System Rescue CD, but who uses CDs any more? Enter SystemRescue, an ISO image that you can burn, or just drop onto your Ventoy USB key, and which may help you to fix a borked Windows box. Or a borked Linux box, come to that.

    SystemRescue 9 includes Linux kernel 5.15 and a minimal Xfce 4.16 desktop (which isn't loaded by default). There is a modest selection of GUI tools: Firefox, VNC and RDP clients and servers, and various connectivity tools – SSH, FTP, IRC. There's also some security-related stuff such as Yubikey setup, KeePass, token management, and so on. The main course is a bunch of the usual Linux tools for partitioning, formatting, copying, and imaging disks. You can check SMART status, mount LVM volumes, rsync files, and other handy stuff.

    Continue reading

Biting the hand that feeds IT © 1998–2022