mikeebbbd writes: According to Bloomberg, “Xerox, a once-iconic American innovator that became synonymous with office copy machines, is ceding control to Japan’s Fujifilm in a deal that creates an $18 billion company.” Essentially, it’s merging with Fujifilm; a former joint venture operating in the Asian-Pacific area essentially will become the parent company… So much for the company that actually invented the modern graphical user interface later popularized by Apple and Microsoft. “The agreement marks the end of independence for a U.S. company whose roots trace back to the start of the 20th century,” reports Bloomberg. “The joint venture will cut 10,000 jobs in Asia as part of the restructuring as the Japanese company struggles with an ‘increasingly severe’ market environment.” While the new company will have a combined revenue of $18 billion, Xerox was acquired by Fujifilm for $6.1 billion.
Read more of this story at Slashdot.
Source: Slashdot – Xerox Cedes Control To Fujifilm, Ending Its Independence