Xerox Holdings Corporation

What does Xerox Holdings own?

The Xerox document technology business, Lexmark International (acquired July 2025), IT services firm ITsavvy, CareAR service software, and the XBS dealer channel.

Is Xerox publicly traded?

Yes. Xerox Holdings trades on NASDAQ under ticker XRX.

Who owns Xerox?

Public shareholders with institutional investors holding the majority. No controlling shareholder exists, though activist investors have repeatedly shaped strategy.

Where is Xerox headquartered?

Norwalk, Connecticut, USA, with major operations remaining in its founding city of Rochester, New York.

How does Xerox make money?

Primarily through annuity-like revenue: supplies, service agreements, and managed print contracts on its installed fleet, plus equipment sales, leases, and a growing IT solutions distribution business.

Did Xerox acquire Lexmark?

Yes. The $1.5 billion acquisition closed July 1, 2025, purchased from Ninestar, PAG Asia Capital, and Shanghai Shouda, and it added A4 color products, Asia-Pacific presence, and the Cebu manufacturing hub.

The Haloid Company, a Rochester photographic paper manufacturer founded in 1906, licensed Chester Carlson's electrophotography process in 1947 and staked the company on it. The 1959 launch of the 914 copier created the plain-paper copier industry, and the renamed Xerox Corporation became a defining growth stock of the 1960s.

The PARC era (1970 onward) produced the GUI, Ethernet, laser printing, and the Alto personal computer, an unmatched record of invention paired with famously poor commercialization. Japanese competition compressed copier economics through the 1980s and 1990s, and a 2002 SEC accounting charge, settled with a $10 million fine and a $670 million shareholder settlement, forced financial restatement.

The services pivot came through the 2010 acquisition of Affiliated Computer Services for $6.4 billion, bringing business process outsourcing, which Xerox then spun off as Conduent in 2017. A 2018 agreement to merge into Fujifilm collapsed under activist pressure from Carl Icahn and Darwin Deason, ending the Fuji Xerox joint venture era and producing the 2019 holding-company restructure as Xerox Holdings Corporation.

Print decline accelerated into the 2020s. The company suspended its dividend in 2024, took a $1 billion goodwill impairment, and pivoted to consolidation: IT solutions provider ITsavvy for about $400 million (closed December 2024) and Lexmark International for $1.5 billion including net debt (closed July 1, 2025), purchased from Ninestar, PAG Asia Capital, and Shanghai Shouda. Combined, the organization now operates 125 manufacturing and distribution sites in 16 countries.

Xerox has long-standing environmental programs including remanufacturing and cartridge take-back systems dating to the 1990s, ENERGY STAR-compliant product lines, and published GHG reduction targets covering operations. It publishes annual corporate social responsibility reporting and is frequently listed in sustainability rankings for its remanufacturing model, which keeps devices in service across multiple lifecycles. No B Corp certification is held; claims are self-reported with third-party environmental audits of select facilities.

The 2002 SEC accounting case, settled for a $10 million fine and $670 million shareholder recovery, remains the company's largest historical scandal. The 2018 Fujifilm merger collapse under Icahn's campaign is the landmark governance event of the modern era. The Lexmark acquisition imported controversy: seller Ninestar has appeared on a U.S. Commerce Department entity list over alleged forced-labor concerns in Xinjiang, which Ninestar denies; the transaction proceeded amid congressional scrutiny of the supply chain. The 2024 dividend suspension and $1 billion goodwill impairment mark the financial stress of the print transition.