Business process and document management company Xerox Corp. (XRX - Free Report) recently announced the acquisition of Customer Value Group Ltd. (CVG) for an undisclosed amount.
Leading software company Customer Value Group’s key Software as a Service (SaaS) cloud application enhances cash collections of diverse firms by simplifying management of customer credit, collections, and disputes. It has an in-depth expertise in cloud-based accounts receivable software and manages the order-to-cash process that is related to approximately $15 billion of revenues in eight countries and multiple currencies.
With this acquisition, Xerox aims to strengthen itself as a as a stand-alone software application provider for managing internal finances of various companies. As part of its finance and accounting process outsourcing services, Xerox will offer Customer Value Group’s Value+ product to its clients. This software helps in generating high return on investments for large companies requiring sophisticated collections, and multilingual automation software and services.
Xerox continues to grow globally through successful acquisitions. Going ahead, Xerox is looking forward to expand its offerings through inorganic measures and new acquisitions to add more clients to its portfolio.
Headquartered in Norwalk, Conn., Xerox is a leader in the development, manufacture, marketing, servicing and financing of document equipment across the world. The company has three operating segments - Technology, Services and Others. Xerox serve clients in 160 countries, providing business services, printing equipment and software for commercial and government organizations.
Xerox currently has a Zacks Rank #3 (Hold). Other stocks that look promising in the industry and are worth a look now include Canon Inc. (CAJ - Free Report) , Marvell Technology Group Ltd (MRVL - Free Report) and NeoPhotonics Corporation (NPTN - Free Report) , each carrying a Zacks Rank #2 (Buy).