Xerox ends 57-year venture with Fujifilm

Xerox Holdings Corp is selling its 25 per cent stake in Fuji Xerox, its 57-year-old joint venture with Fujifilm Holdings Corp, to the Japanese partner for US$2.3 billion (RM9.55 billion), ending a prolonged dispute over a potential merger. As part of the deal announced by Xerox and Fujifilm yesterday, Xerox will also sell its majority stake in another smaller joint venture with Fuji Xerox to the Japanese firm. The venture accounts for nearly half of Fujifilm’s revenue while Xerox no longer builds its own office copiers, instead relying mostly on Fuji Xerox.