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Xerox sells Argentina and Chile operations to Grupo Datco

EditorNatashya Angelica
Published 03/12/2024, 12:08 PM
© Reuters.

NORWALK, Conn. - Xerox (NASDAQ:XRX) Holdings Corporation (NASDAQ: XRX) has sold its business operations in Argentina and Chile to Grupo Datco, a technology services provider in Latin America. This move is a part of Xerox's broader strategy to transform its operating model and continue its corporate reinvention.

The announcement made on Tuesday indicates that Grupo Datco will take over the servicing of Xerox devices previously sold in these two countries and will act as the exclusive partner for Xerox products and services in these markets. With this transition, Xerox aims to maintain its brand presence in Argentina and Chile through a partner-led business model.

John Bruno, president and chief operating officer at Xerox, expressed confidence in Grupo Datco's capabilities, citing their track record of supporting clients with necessary software and services. He emphasized the importance of partners in driving client success and productivity.

Horacio Martínez, CEO and founder of Grupo Datco, stated that the acquisition is a strategic move to increase market share for Xerox's innovative products and services. Grupo Datco plans to leverage its experience in managing acquired companies to foster growth, synergies, and long-term development in the region. The company also intends to prioritize the preservation of the talented workforce during this transition.

While the financial details of the transaction were not disclosed, the deal is expected to offer new growth opportunities for both entities.

Xerox, known for over a century for its office and production print technology, has expanded into software and services to adapt to the evolving needs of the hybrid workplace. The company continues to innovate, providing technology solutions and financial services that are essential for today's distributed workforce.

This business decision is based on a press release statement and reflects Xerox's ongoing efforts to adapt its business model to better serve its clients and partners in a changing global market.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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