Fujifilm acquires Xerox for $6.1 billion

Enlarge / The logo of Fuji Xerox Co., the joint venture between Fujifilm Holdings Corp. and Xerox Corp., is displayed outside the company's headquarters in Tokyo, Japan, on Wednesday, Jan. 31, 2018. (credit: Tomohiro Ohsumi / Bloomberg via Getty Images)

Xerox-the iconic American company that began in Rochester, New York in 1906-has been acquired by Fujifilm for $6.1 billion.

The two companies have existed for over half a century as corporate partners under the Fuji Xerox name. The new company, which will have a combined revenue of $18 billion, will keep the dual moniker as well as its pair of corporate headquarters in both Tokyo and Connecticut.

"The proposed combination has compelling industrial logic and will unlock significant growth and productivity opportunities for the combined company, while delivering substantial value to Xerox shareholders," Jeff Jacobson, chief executive officer of Xerox, said in a statement.

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