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Xerox To Acquire Global Imaging Systems For $1.5 Billion

Acquisition will allow Xerox to increase their customer base to small and medium-sized businesses.

Xerox Corp. announced Monday that it will acquire Global Imaging Systems, Inc. for approximately $1.5 billion.

The acquisition is expected to be completed in May 2007.

Global Imaging Systems has 21 regional core companies in the U.S. that sell and service document management systems from various suppliers, none of which currently includes Xerox. Following the close of the acquisition, Globe will also sell Xerox document management products.

According to Anne M. Mulcahy, Xerox chairman and CEO, the aquisition gives Xerox access to Global Imaging's extensive customer base and adds over 1,400 ‘feet on the street’ selling Xerox systems. 

Global Imaging, which will operate as a wholly owned subsidiary of Xerox, serves almost 200,000 small- and medium-sized customers and has over $1 billion in annual sales.

Global Imaging will maintain its headquarters in Florida, and its 4,500 employees will retain their positions in the company’s regional core companies. Tom Johnson and Michael Shea, president and CEO of Global, will continue in their positions.

This acquisition is Xerox’s third in the past year. In July 2006, Xerox acquired Amici LLC, a provider of electronic-discovery services that support litigation and regulatory compliance, for $175 million, and in November 2006, the company acquired XMPie, a provider of software for personalized, multimedia marketing campaigns, for $54 million.