Xerox Corp. (XRX) announced the completion of its acquisition of Affiliated Computer Services Inc. (ACS), transforming Xerox into the world's leader in business process and document management.
Ursula Burns, Xerox chief executive officer explained, "With ACS, we take another step forward, expanding our leadership to include business process outsourcing that helps simplify document-driven work."
Xerox added that ACS would initially be branded ACS, A Xerox company and will continue to be led by Lynn Blodgett, who has been elected by the Xerox board as an executive vice president of the corporation. Blodgett will report to Burns.
Additionally, the company noted that through a combination of services, technology and innovation, the combined company would pursue a $500 billion market focused on document and process management for businesses and governments.
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