Xerox Acquires Canadian IT Services Provider, Powerland, to Grow Presence in IT Services Market

Rhea-AI Summary

Xerox Holdings Corporation (NASDAQ: XRX) has acquired Powerland, a premier IT services provider in Canada, for cash, enhancing its IT service offerings across North America. This acquisition focuses on cloud, cyber security, and managed services, aligning with increasing investments in IT by small and medium-sized businesses. Powerland's accolades include the Nvidia Partner of the Year and Dell Marketing Partner of the Year, which bolsters Xerox's reputation in the IT sector. This move is part of Xerox's strategy to expand its IT services business, previously acquiring ITEC Connect and Digitex.

Positive

• Enhances Xerox's IT services offerings in North America.
• Strengthens capabilities in cloud, cyber security, and managed services.
• Powerland's accolades bolster Xerox's industry reputation.
• Expands reach and customer value in the Canadian market.
• Aligns with increasing SMB investments in IT solutions.

Negative

• None.

NORWALK, Conn.--(BUSINESS WIRE)-- Xerox Holdings Corporation (NASDAQ: XRX) today announced it has acquired Powerland, a leading IT services provider in Canada, for cash. The acquisition strengthens Xerox’s IT services offerings in North America, which include cloud, cyber security, end user computing and managed services.

Powerland serves customers throughout Canada and provides a wide array of technology solutions and services including cloud, hybrid cloud, cyber security, and end-user computing solutions based on individual business needs. Powerland recently earned 2021 industry accolades including Nvidia Partner of the Year, Dell Marketing Partner of the Year North America, HPE Service Partner of the Year and Tech Data Circle of Excellence.

“Today, the ability to quickly adapt to change and remain competitive requires a strong IT partner,” said Martin Bachant, president, Xerox Canada. “Combining the talented teams of Powerland and Xerox IT Services provides a greater value proposition for customers with support, information security expertise and technology solutions from major IT manufacturers. We manage our customers’ technology so they can manage their business.”

Recent research shows that SMBs will increase their investments in key IT solutions such as cloud infrastructure, managed IT services, collaboration solutions and cyber security. The addition of Powerland will enable Xerox to expand reach in North America to offer increased value to customers throughout Canada.

“We are thrilled to join a world-class innovator like Xerox and look forward to enhancing business outcomes and technology transformations for our clients across Canada,” said Curtis Dery, executive vice president, Powerland.

This acquisition continues Xerox’s commitment to expand its IT services business. Xerox acquired both ITEC Connect, a leader in IT services in the UK, and Digitex, an IT services provider in Canada, in March 2020. Xerox acquired Competitive Computing (C2), a Vermont based IT services company, in October 2021. The global IT services market is sized at more than $680 billion annually according to Techaisle.

About Xerox Holdings Corporation (NASDAQ: XRX)

For more than 100 years, Xerox has continually redefined the workplace experience. Harnessing our leadership position in office and production print technology, we’ve expanded into software and services to power today’s workforce. From the office to industrial environments, our differentiated business solutions and financial services are designed to make every day work better for clients — no matter where that work is being done. Today, Xerox scientists and engineers are continuing our legacy of innovation with disruptive technologies in digital transformation, augmented reality, robotic process automation, additive manufacturing, Industrial Internet of Things and cleantech. Learn more at xerox.com.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20220202005806/en/

Media Contact:

Justin Capella, +1-203-258-6535, Justin.Capella@xerox.com

Source: Xerox Holdings Corporation

FAQ

What was the purpose of Xerox's acquisition of Powerland?

The acquisition aims to enhance Xerox's IT service offerings, particularly in cloud, cyber security, and managed services across North America.

When did Xerox acquire Powerland?

Xerox announced the acquisition of Powerland on February 2, 2022.

How does Powerland's acquisition impact Xerox's market position?

The acquisition strengthens Xerox's position in the North American IT services market, allowing for increased value delivery to customers.

What are Powerland's key strengths that benefit Xerox?

Powerland is recognized for its expertise in cloud and cyber security services, demonstrated by several industry awards.

What is the strategic importance of this acquisition for Xerox?

This acquisition supports Xerox's commitment to expanding its IT services business and responding to rising investments in IT by SMBs.