XEROX CORP: M&A transaction — Xerox files financial statements for $405M ITsavvy acquisition; ITsavvy revenue $409.6M in 2023

XEROX CORP

Net income of $1.05M on $409.6M revenue for ITsavvy in FY2023.
Cash consideration $405M; acquisition closed Nov 20, 2024.
Goodwill $65.9M and intangible assets $111.7M recorded.
Pro forma data included for nine months ended Sep 30, 2024 and FY2023.
Change in accounting principle: ITsavvy unwound private company goodwill amortization.

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 approximately $405 million (closed 2024-11-20).

Action: acquisition
Counterparty: ITsavvy Holdings, LLC
Consideration: approximately $405 million
Closing: 2024-11-20

Exact text from the filing

by Xerox pursuant to the Purchase Agreement, after customary working capital and other adjustments in accordance with the terms of the Purchase Agreements, was approximately $405 million. This Form 8-K/A has been filed to amend and supplement the Original Form 8-K to provide the financial statements described in Item 9.01 below, which are permitted to be filed by

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Source: SEC EDGAR

accession 0001770450-25-000006

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