Xerox Corp. Buys Managed Print Services ProviderBy Jessica Davis | Print
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Xerox Corp.'s acquisition of Oakville, Ontario-based LaserNetworks expands the printer and copier manufacturer's geographic footprint in Canada and also increases its services offerings as it faces the decline of printer and copier sales.
Need more proof that big legacy businesses are snapping up managed services providers in a big way? Xerox Corp announced this week that it has acquired LaserNetworks, a managed print services provider in Oakville, Ontario.
The location expands Xerox’s geographic footprint as well in the managed print market.
"Our acquisition of LaserNetworks expands our services footprint in Canada, enhancing our capabilities and distancing us from our competitors. It is further evidence of Xerox’s transformation into a services-led, technology-driven company," said Mandy Shapansky, president and CEO, Xerox Canada, in a prepared statement.
LaserNetworks provides MPS solutions that include print device tracking, centralized service and supply management and document routing. The company has 40,000 print-related devices under management and 189 employees in sales, services and business operations.
It will operate as a wholly-owned subsidiary of Xerox Canada with LaserNetworks founder and CEO Chris Stoate continuing to lead the company, reporting to Shapansky.
"By becoming part of such an esteemed company with well respected industry leadership, we exponentially increase our ability to deliver more customer value," said Stoate, in a statement. "We’re combining our collective industry expertise and innovative technologies to help our clients take full advantage of the benefits managed print services bring to their workplaces."
The move by Xerox is only the most recent in efforts by printer manufacturers to move into services businesses. For instance, Konica Minolta acquired MSP All Covered a year ago. And OKI Data America has acknowledged it plans to embark on a campaign to acquire MSPs.