XEROX BUYING AMICI FOR $174 MILLION

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XEROX BUYING AMICI FOR $174 MILLION

 user 2006-06-21 at 10:27:00 am Views: 65
  • #15795

    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