XEROX CORP: M&A transaction — Xerox completes acquisition of ITsavvy for $400M in cash and notes

XEROX CORP

Acquired ITsavvy for $400M total: $180M cash and $220M in secured promissory notes.
Issued $110M 2025 Note and $110M 2026 Note to the seller on Nov 20, 2024.
Financial statements and pro forma data for ITsavvy to be filed by amendment within 71 days.
Deal originally reported in Form 8-K filed Oct 17, 2024; this 8-K confirms closing.

item 1.01 item 2.03 item 2.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

XEROX CORP completed an acquisition involving ITsavvy Holdings, LLC for $180.0 million in cash (closed 2024-11-20).

Action: acquisition
Counterparty: ITsavvy Holdings, LLC
Consideration: $180.0 million in cash
Closing: 2024-11-20

Exact text from the filing

On November 20, 2024 (the “Closing Date”), Xerox completed the acquisition of all of the issued and outstanding equity securities of the Company. On the Closing Date, Xerox paid $180.0 million in cash to the Seller and issued to the Seller (i) a $110.0 million secured promissory note (the “2025 Note”), and (ii) another $110.0 million secured promissory note (the “2026

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Source: SEC EDGAR

accession 0001193125-24-263043

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