Xerox to create 3 new businesses, in software, financing and innovation – MarketWatch
Copier and printer maker Xerox Holdings Corp.
XRX,
said it plans to create three new businesses: Software, Financing and Innovation. The company ssaid Sam Waicberg will lead the software business, which includes the recently acquired CareAR and its content-management system DocuShare, as well as its marketing software company XMPie and its FreeFlow automation software for production print business. Nicole Torraco will lead Xerox Financial Services, which will become a payment solutions business. Chief Technology Officer Naresh Shanker will lead the PARC Innovation business, which includes its 3D liquid metal, cleantech technology and industrial Internet-of-Things (IoT) products. Xerox’s stock, which rose 6.8% in midday trading, has rallied 29% over the past three months but has tumbled 37% over the past 12 months. In comparison, the S&P 500
SPX,
has gained 15.2% the past three months and advanced 16.8% the past year.