XEROX BUYING AMICI FOR $174 MILLION

[Anonymous]

Xerox buying privately held Amici for $174 mln
NEW
YORK, June 06- Xerox Corp. said on Wednesday it would buy privately
held Amici LLC, which helps customers manage and search through legal
and other documents, for $174 million in cash.Amici also provides
consulting and professional services to attorneys regarding document
discovery. Amici, based in Albany, New York, employs about 125
people.”Considering that this is a small company and a modest-sized
acquisition, it is not material to our revenue or earnings
expectations,” Xerox spokeswoman Christa Carone said on Wednesday.Xerox
is best known for its copiers and printers, but it also has a growing
business on providing document management services. It expects the deal
to close in the next 30 days.Xerox has said that it plans to make
modestly sized acquisitions in areas that build on its services
business.Analyst Shannon Cross of Cross Research said she does not
expect the company, which had about $1.8 billion in cash on hand at the
end of March, to become an aggressive shopper.”We think there is room
for both small acquisitions and share repurchase within its expected
$1.5 billion annual operating cash flow,” she said

[Author]

June 21, 2006 at 10:27 AM