Recently, Xerox entered into an agreement to combine with Fuji Xerox, says Steve Hoover, Chief Technology Officer and Corporate Senior Vice President at Xerox.
Japan's Fujifilm will combine the US company into their existing joint venture to gain scale and cut costs amid declining demand for office printing.
Billionaire activist-investor Carl Icahn discloses a stake in Xerox, calling the printer and copier maker's shares "undervalued".
The company says it will focus on becoming a printing service provider rather than a device seller.
The company will supply government with multi-function print devices and management services.
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