Wow. Double Wow. Today is a very exciting day here at Xerox. We have launched a corporate blog! You may have also noticed, today we announced THE most significant acquisition in company history, our intent to buy Affiliated Computer Services, better known as ACS for $6.4 billion. Now, while the purchase of ACS is clearly not as important as the launching of the blog, I’ll spend a couple minutes walking you all through both news items today.
All kidding aside, the deal today is HUGE. For Xerox, the move reshapes the business – creating a $22 billion enterprise, of which $17 billion in revenue is recurring. Our services business triples in size to $10 billion. For the past couple years we have been making modest, strategic steps into business process outsourcing. And those steps gave us a glimpse into the potential opportunity in the market. Now, together with ACS, we are going after one of the hardest problems corporations, government institutions, and organizations face – namely the creation, management and distribution of paper and digital information.
In fact – don’t take my word for it – watch Ursula Burns and Lynn Blodgett – the ACS CEO – briefly describe it.
And on the blog side of things… frankly…. It is about time. The Real Business @ Xerox blog will be a way for us to peel back the onion a bit to provide you with company insight and information as we see it. So, thanks for being here on our inauguration….