Information technology services provider Xerox Corporation’s (XRX - Free Report) Research Centre in Canada recently inked a multi-year materials research services agreement with Dallas-based Authentix Inc. for an undisclosed amount. The agreement entails the research department to collaborate with Authentix to improve the security of products that require a strict authentication process.
Headquartered in Dallas, TX, Authentix offers anti-counterfeiting and program integrity solutions for the oil and gas industry and tax stamp markets. Its product portfolio ensures program integrity by combating counterfeiting efforts and protects brand equities.
By collaborating with Xerox Research Centre Canada, Authentix aims to introduce new levels of security, accuracy and efficiency to product authentication by leveraging on the core competencies of the research division. On the other hand, the strategic tie-up will enable Xerox scientists to hone their skills so as to improve the data security business.
In order to better adapt to evolving market trends, Xerox has continually realigned its business model by expanding the indirect distribution channel and streamlining its supply chain and product portfolio. The company expects to increase revenues from the Services segment to 66% of total revenue by 2017 from 56% in 2013.
Headquartered in Norwalk, CT, Xerox is a leader in the development, manufacture, marketing, servicing and financing of document equipment across the world. The company also provides extensive leading-edge document technology, services, software and genuine Xerox supplies for graphic communication and office printing environments of any size.
Xerox currently has a Zacks Rank #3 (Hold). Other formidable names in the industry include Lexmark International Inc. and Ricoh Company, Ltd. (RICOY - Free Report) , both carrying a Zacks Rank #2 (Buy), and Pitney Bowes Inc. (PBI - Free Report) holding a Zacks Rank #1 (Strong Buy).