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Xerox (XRX) to Gain From Competitive Computing Buyout: Here's How

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Xerox Holdings Corporation (XRX - Free Report) recently announced that it has completed the acquisition of Competitive Computing (C2), an IT-services provider.

C2 has been serving Vermont, New England, and other U.S. clients for more than 28 years.

C2 will be joining the Xerox IT Services team. The combined entity is expected to offer enhanced IT and business services for its expanding client base, create significant employee growth opportunities, and continue expanding in the Vermont community.

Joanne Collins Smee, chief commercial, SMB and channels officer at Xerox, stated, "We're focused on expanding the reach of Xerox IT services to offer our clients automation, digitization, and security to lower operating costs, increase reliability and improve productivity." She further added, "C2's capabilities and scale will help accelerate our growth, creating new avenues for us to support growth for small and medium sized businesses."

With the global IT services market being valued at more than $350 billion annually, the latest deal seems to be a strategic move on Xerox's part to expand its IT services business. With the company accelerating its push into the market, it might have to lock horns with the likes of ServiceNow (NOW - Free Report) , EPAM Systems (EPAM - Free Report) and CDW Corporation (CDW - Free Report) .

Xerox has previously acquired ITEC Connect, a U.K.-based IT services company, and Digitex, a Canada-based IT services provider, in March 2020.