Fujifilm now 100% owner

Xerox has announced that it has an agreements with FUJIFILM to sell Xerox’s 25% stake in Fuji Xerox ( it  was a 57 year old  partnership in Asia ) and  Xerox’s 51% stake in Xerox International Partners (XIP), an OEM joint venture between Xerox and FX. Also dismissal of the $1 billion lawsuit FUJIFILM filed against Xerox after last year’s terminated merger. Xerox is expected to receive $2.3 billion.

Fujifilm ends lawsuit against Xerox

Xerox intends  to use the proceeds to pursue accretive M&A in core and adjacent industries, return capital to shareholders and pay down its $550 million December 2019 debt maturity. Both Fujifilm and Xerox will be free to pursue new OEM opportunities without the previous strictures around their joint venture. This ends the long running dispute between Fuji and  Xerox joint owners FujiXerox, which erupted last year over a proposed $6bn merger of FujiXerox and Xerox.