Xerox
| File:Xerox logo (2018).svg Xerox logo since 2018 | |
| Company type | Public |
|---|---|
| Industry | Document solutions and services |
| Founded | January 1, 1906 in Rochester, New York, United States |
| Founder | Joseph C. Wilson (founding figure) |
| Headquarters | Norwalk, Connecticut , United States |
Area served | Worldwide (over 160 nations) |
Key people | Anne M. Mulcahy (former CEO), Paul Allaire (former CEO), David T. Kearns (former CEO), G. Richard Thoman (former CEO) |
| Products | Office and production printers, multifunction devices, wide-format printers, projectors, scanners, copiers |
| Website | www |
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Xerox Holdings Corporation (, ) is a U.S.-based enterprise delivering print and digital document solutions and services in over 160 nations worldwide. Established in 1906 in Rochester, New York, Xerox revolutionized the photocopying industry with the introduction of the Xerox 914 in 1959, securing a dominant position in the market. The company’s headquarters are located in Norwalk, Connecticut, while significant operations continue in Rochester. Xerox has maintained a steady presence on the Fortune 500 list.
In 2010, Xerox expanded its portfolio by acquiring Affiliated Computer Services for $6.4 billion, entering the business process services sector. Nevertheless, in 2016, it divested this division, creating the publicly traded Conduent to concentrate on its core strengths in document technology and outsourcing. Xerox was listed on the New York Stock Exchange from 1961 until it transitioned to Nasdaq in 2021.
Xerox’s Palo Alto Research Center (PARC) played a pivotal role in personal computing advancements, pioneering innovations such as the graphical user interface (GUI), desktop metaphor, and computer mouse—technologies later adopted by companies like Apple and Microsoft. Its extensive product range includes office and production printers, multifunction devices, wide-format printers, projectors, scanners, and copiers, catering to a diverse global clientele.
History
Originally founded as the Haloid Photographic Company in Rochester, New York in 1906, Xerox initially specialized in producing photographic paper and related equipment.
In 1938, physicist Chester Carlson developed a novel method for image reproduction using an electrically charged metal plate coated with photoconductive material and dry toner powder. After more than two decades of refinement, the first automated copying machine was introduced, featuring components such as a document feeder, scanning light source, and rotating drum.
Entrepreneur Joseph C. Wilson, often credited as Xerox’s founding figure, took control of Haloid from his father. Recognizing the commercial promise of Carlson’s invention, Wilson secured an agreement in 1946 to develop the technology further. He held the roles of President and CEO until 1967 and served as chairman until his passing in 1971.
To promote its innovative technology, Haloid created the term xerography, derived from Greek roots meaning "dry writing." The company was renamed Haloid Xerox in 1958 and later became Xerox Corporation in 1961.
Prior to launching its groundbreaking Model 914 copier, Xerox introduced the Flat-plate 1385—a manually operated device primarily used for producing printing plates for offset lithography presses. This product represented Xerox’s initial attempt to penetrate the offset printing market by offering superior quality printing plates via a selenium-coated aluminum plate process.
Building on this foundation, Xerox released the Copyflo in 1955—the first automatic xerographic microfilm printer capable of producing positive images on roll paper. It was followed by the smaller 1824 model that printed on hand-fed cut-sheet paper. The gripper feed mechanism developed for these printers later became integral to the design of the compact 813 desktop copier.
This sequence of early product developments illustrates Xerox’s strategic expansion into office automation and document management sectors, strengthening its leadership position in imaging technologies.
Xerox 914
Xerox rose to prominence in 1959 with the introduction of the Xerox 914, the first photocopier capable of using plain paper, developed by Chester Carlson and John H. Dessauer. This product became one of the most profitable innovations in history, generating close to $60 million in revenue by 1961 and surpassing $500 million by 1965. Its success was largely attributed to a marketing strategy that highlighted user-friendliness, establishing ease of operation as a fundamental principle in Xerox’s product development.
Xeronic Computer Printer
In 1956, Haloid formed a partnership with the UK-based Rank Organisation to modify American products for the European market. Rank Precision Industries created the Xeronic computer printer, which utilized cathode-ray tubes combined with microfilm overlays. Initially designed as an online device for Ferranti and AEI computers, interface complications necessitated a shift to an offline magnetic tape configuration. Lyons Computers placed an order for the printer to be used with their LEO III system in 1962; delivery occurred in 1964, boasting a printing capability of 2,888 lines per minute.
1960s
Throughout the 1960s, Xerox held a dominant position in the photocopier market. The Wilson Center for Research and Technology opened in Webster, New York, in 1960 to foster innovation. The company rebranded itself as Xerox Corporation in 1961 and went public on the New York Stock Exchange that same year, enhancing its financial resources.
In 1963, Xerox launched the Xerox 813, the first desktop plain-paper copier that fulfilled Carlson’s original vision. The product range expanded with models such as the 330 and 660, culminating in the introduction of the 740 microfiche printer. In duplicating technology advancements, Xerox released the Xerox 2400 in 1966, which incorporated pioneering automation features including document feeders and collators; this model was later succeeded by the faster Xerox 3600 Duplicator.
Xerox also ventured into early digital communication technologies with long distance xerography (LDX), linking copiers via telephone networks starting in 1964. The Magnafax Telecopier was introduced in 1966, although fax machines did not achieve widespread use until many years later.
Leadership transitioned to C. Peter McColough as CEO in 1968, centralizing operations at Xerox Square in Rochester with the construction of the distinctive Xerox Tower. Under his guidance, Xerox diversified through acquisitions including University Microfilms International (1962), Electro-Optical Systems (1963), R.R. Bowker (1967), and Scientific Data Systems (SDS) in 1969. SDS was rebranded as Xerox Data Systems (XDS), manufacturing mainframe computers until its divestiture to Honeywell in 1975.
1970s
Archie McCardell assumed the presidency in 1971 and oversaw the debut of Xerox's inaugural color copier, the Xerox 6500. During his tenure from 1973 to 1975, Xerox achieved record-breaking profits and revenues. Expansion efforts across North America were supported by John Carrol.
Midway through the decade, Xerox introduced the 9200 Duplicating System aimed at print shops, doubling the speed of previous models. It was followed by the release of the 9400 featuring automatic duplexing and subsequently the 9500 equipped with variable zoom and electronic lightness adjustment.
In 1975, Xerox launched a memorable Super Bowl advertising campaign starring Brother Dominic—a monk character who promoted the efficiency of the 9200 system. Portrayed by Jack Eagle, Brother Dominic became a lasting brand symbol into the following decade, strengthening Xerox’s market presence.
Despite several years of robust financial results, Xerox resolved an FTC antitrust lawsuit in 1975 through a consent decree that mandated licensing its patents to Japanese competitors. This led to a significant reduction in U.S. market share from nearly total dominance down to less than 14% within four years.
In 1979, Xerox acquired Western Union International to develop its Xerox Telecommunications Network (XTEN) for local-loop communications but exited this business by selling assets to MCI Communications at a loss in 1982.
1980s
David T. Kearns, who had been with Xerox since 1971, assumed the role of CEO in 1982 and spearheaded a company revival by enhancing quality and realigning its product offerings. In 1981, Xerox ventured beyond traditional copiers by introducing the Memorywriter electronic memory typewriters, capturing a significant 20% of the market, largely at the expense of IBM.
In 1980, Xerox expanded its technological capabilities by acquiring Kurzweil Computer Products, a leader in flatbed scanning technology. This was followed in 1986 by the $31 million purchase of Datacopy, further bolstering its imaging technology assets.
Xerox broadened its business scope into financial services through the acquisition of insurance firm Crum & Forster in 1983 and the establishment of Xerox Financial Services (XFS) in 1984. However, in 1985, the company divested several publishing units, including University Microfilms and R. R. Bowker.
The launch of the 6500 color copier occurred in 1986, and by 1989, Xerox had earned the Malcolm Baldrige National Quality Award for Business Products and Systems, cementing its status as a leader in quality and innovation.
1990s
In 1990, Paul Allaire—who had been with Xerox since 1966—succeeded Kearns as CEO and redirected the company’s focus by withdrawing from financial services. Throughout the decade, Xerox maintained industry leadership through advancements in digital photocopiers and a refreshed product portfolio.
The introduction of the DocuTech Production Publisher Model 135 marked Xerox’s entry into print-on-demand technology. Digital photocopiers evolved into multifunction devices combining printing, scanning, faxing, and networking features. Xerox transitioned toward a service-centric model delivering document supply management, maintenance, configuration, and client support.
To highlight this strategic shift, in 1994 Xerox adopted the tagline "The Document Company" alongside a new red digital X logo representing the integration of paper and digital documentation.
In April 1999, G. Richard Thoman—an executive recruited from IBM in 1997—became Xerox’s first CEO hired externally but stepped down in 2000 amid industry difficulties.
2000s
Following Thoman’s departure, Allaire resumed leadership until Anne M. Mulcahy, a seasoned Xerox executive, was appointed president in 2000, CEO in 2001, and chairman in 2002. Mulcahy led an assertive turnaround strategy that restored profitability by 2002 while reducing debt levels, boosting cash flow, and maintaining investment in research and development.
In 2000, Xerox acquired Tektronix’s color printing and imaging division for $925 million. This acquisition facilitated the creation of the Xerox Phaser line and advanced solid ink printing technologies.
September 2004 marked the 45th anniversary of the Xerox 914 copier—the first plain paper copier—with over 200,000 units produced between 1959 and 1976. The iconic model is now preserved as part of the Smithsonian Institution’s collection.
In November 2006, Xerox purchased XMPie, a software firm specializing in cross-media marketing and variable data printing. XMPie continued operating as an independent subsidiary within Xerox under founder Jacob Aizikowitz’s leadership.
Xerox moved its corporate headquarters from Stamford to Norwalk, Connecticut in October 2007.
In October 2008, Xerox Canada Ltd. was honored as one of Greater Toronto’s Top Employers, reflecting its strong market position and workplace culture.
On July 1, 2009, Ursula Burns succeeded Mulcahy as CEO—becoming the first African American woman to head a Fortune 500 corporation.
On September 28, 2009, Xerox announced its $6.4 billion acquisition of Affiliated Computer Services (ACS), a significant provider of outsourcing and services. The transaction closed in February 2010 with shareholders receiving approximately 4.935 Xerox shares plus $18.60 cash per ACS share—a total value of $63.11 per share—substantially expanding Xerox’s global footprint and service capabilities.
2010s
In May 2011, Xerox expanded its IT services capabilities by acquiring NewField IT.
By December 2013, Xerox divested its solid ink product design and engineering team located in Wilsonville, Oregon, selling it to 3D Systems for $32.5 million in cash, thereby refining its focus on core product development.
At the end of 2014, Xerox sold its IT outsourcing division—originally acquired from Affiliated Computer Services in 2009—to Atos for $1.05 billion, citing that this segment's growth lagged behind other areas of the company.
In January 2016, facing pressure from activist investor Carl Icahn, Xerox revealed plans to separate its business services segment, mainly consisting of Affiliated Computer Services, into an independent publicly traded entity. Icahn gained three seats on the board and influence over the CEO selection for the new company. By June of that year, the document management division retained the Xerox brand, while the newly formed business services firm was named Conduent, with Ashok Vemuri appointed as CEO. Following this split, Jeff Jacobson was designated Xerox CEO starting January 2017.
On January 31, 2018, Xerox announced a deal for Fujifilm to acquire a controlling interest of 50.1% for $6.1 billion, combining with their Fuji Xerox joint venture valued at $18 billion after acquisition. This strategic alliance was designed to strengthen Xerox’s footprint in Asia-Pacific markets and enhance research and development capabilities.
Nevertheless, on May 1, 2018, chairman Robert Keegan, CEO Jeff Jacobson, and four board members resigned amid a proxy contest led by Icahn and Darwin Deason opposing the Fujifilm transaction. By May 4, Xerox withdrew from the acquisition due to unresolved legal conditions. A subsequent agreement on May 13 terminated the Fujifilm deal and restructured the company’s leadership.
In November 2019, Xerox launched an unsolicited takeover attempt for HP Inc., seeking direct engagement with shareholders after HP declined two prior offers. By January 2020, Xerox aimed to replace HP’s board to facilitate the acquisition. HP responded by criticizing the offer as a "flawed value exchange" with exaggerated synergy claims and implemented defensive tactics including a shareholder rights plan—actions believed to be influenced by Icahn.
This decade illustrates Xerox’s strategic evolution through acquisitions and divestitures alongside leadership transformations and assertive market strategies aimed at enhancing growth and competitive positioning within printing and IT services sectors.
2020s
In February 2020, Xerox appointed Tali Rosman as Vice President of its 3D business segment. Rosman joined from NICE Ltd., where she served as Vice President and head of business operations for the Americas, reporting directly to CTO Naresh Shanker.
On March 5, HP’s board unanimously rejected Xerox’s cash-and-stock takeover proposal priced at $24 per share. By March 13, citing the escalating COVID-19 crisis as a priority over acquisition efforts, Xerox paused its bid for HP. On March 31, Xerox officially withdrew the $24 per share offer.
September 2020 saw Xerox inaugurate its North Carolina Center of Excellence in Cary, consolidating research and development activities alongside a 3D printing laboratory and the Digital eXperience IT division to foster innovation.
In September 2021, after six decades on the New York Stock Exchange, Xerox transitioned its stock listing to Nasdaq as part of a strategic repositioning.
In December 2024, Xerox announced it would acquire Lexmark International—a printer and printing software company based in Lexington, Kentucky and owned by Chinese investors—for $1.5 billion. This acquisition broadened Xerox’s product lineup and increased its market presence in printing technology. The transaction was completed on July 2, 2025.
Digital printing
The laser printer was invented in 1969 by Xerox researcher Gary Starkweather, who adapted a Xerox 7000 copier. Initially, Xerox’s leadership was reluctant to bring this technology to market, concerned it might undermine their existing copier sales, which delayed its commercialization until IBM introduced the 3800 laser printer in 1976.
The Xerox 1200, launched in 1973, was the first commercially available non-impact printer. It was based on the 3600 copier and tailored for high-volume mainframe computing environments. This model incorporated an optical character generator created by engineer Phil Chen.
After IBM entered the market, Xerox released the 9700 laser printer in 1977, designed to manage larger print workloads in mainframe contexts. This product played a crucial role in establishing laser printing as a lucrative, multibillion-dollar sector for Xerox.
During the late 1970s, Xerox also introduced the Xerox 350 color slide machine, which allowed for digital production of word and graphic slides, laying groundwork for technologies later utilized in photo editing software.
In 1980, Xerox presented the 5700 laser printer, a more compact model featuring a touch-screen interface along with multiple media inputs and finishing capabilities. Although initially developed as a demonstration piece rather than a commercial offering due to its high production costs, it gained customer interest. It was soon succeeded by the more cost-effective Xerox 2700 Distributed Electronic Printer in 1982.
These developments underscore Xerox’s pioneering role in digital printing innovation, significantly boosting its revenue streams and influence within the printing market.
Palo Alto Research Center
In 1970, under the leadership of president C. Peter McColough, Xerox established the Palo Alto Research Center (PARC), which became instrumental in developing foundational computing technologies such as the graphical user interface (GUI), laser printing, WYSIWYG text editors, and Ethernet. PARC created the Xerox Alto in 1973—a groundbreaking minicomputer equipped with a screen, mouse, and keyboard—widely regarded as the first genuine personal computer. Although not sold commercially, it was deployed within Xerox and US government offices, interconnected through Xerox’s Ethernet LAN. PARC also pioneered early internetworking protocols including the PARC Universal Packet (PUP).
In 1979, Steve Jobs secured a deal with Xerox’s venture division by investing US$1 million for access to PARC’s innovations. Recognizing the commercial promise of the WIMP (Window, Icon, Menu, Pointing device) interface system, Jobs incorporated these concepts into Apple’s Lisa project, redirecting its development focus. By 1980, he had recruited key PARC researchers to Apple to advance these technologies further.
Xerox introduced the commercial Xerox Star in 1981, featuring a bitmapped display with window-based GUI, mouse input, Ethernet connectivity, file and print servers, and e-mail capabilities—elements now standard in personal computing. However, its steep price of US$16,000 per unit constrained sales; outfitting an entire office could reach US$100,000.
Apple considered acquiring Xerox during the mid-1980s but ultimately opted to license rights to the Alto GUI instead. This decision led to the launch of the Apple Macintosh in 1984, which popularized GUI and mouse-driven interaction across business and education sectors.
In 2002, PARC transitioned into an independent subsidiary fully owned by Xerox. In April 2023, Xerox announced it would donate PARC and its assets to SRI International, while retaining most patent rights and securing a preferred research collaboration agreement with SRI/PARC.
Chief executives
| Name | Position | Period of Service | Photo |
|---|---|---|---|
| George C. Seager | President | 1906–1912 | |
| Gilbert E. Mosher | President | 1912–1938 | |
| Joseph R. Wilson | President | 1938–1946 | |
| Joseph C. Wilson | President Chief Executive Officer |
1946–1966 1961–1967 |
|
| C. Peter McColough | Chief Executive Officer | 1968–1982 | |
| David T. Kearns | Chief Executive Officer | 1982 – July 31, 1990 | |
| Paul A. Allaire | Chief Executive Officer | August 1, 1990 – April 6, 1999 | |
| G. Richard Thoman | Chief Executive Officer | April 7, 1999 – May 10, 2000 | |
| Paul A. Allaire | Chief Executive Officer | May 11, 2000 – July 31, 2001 | |
| Anne M. Mulcahy | Chief Executive Officer | August 1, 2001 – June 30, 2009 | |
| Ursula Burns | Chief Executive Officer | July 1, 2009 – December 31, 2016 | |
| Jeff Jacobson | Chief Executive Officer | January 1, 2017 – May 15, 2018 | |
| John Visentin | CEO and Vice Chairman | May 16, 2018 – June 28, 2022 | |
| Steve Bandrowczak | CEO and Vice Chairman | June 29, 2022 – present |
Products and services
Xerox develops and markets office devices such as scanners, printers, and multifunctional equipment that combine features like scanning, printing, copying, emailing, and faxing. Prominent product families include WorkCentre, Phaser, and ColorQube. For the commercial printing and graphic communications sectors, Xerox supplies high-capacity digital presses and production printers utilizing both xerographic and inkjet methods. Key offerings encompass the iGen, Nuvera, DocuPrint, Impika lines alongside Trivor, iPrint, and Rialto inkjet systems.
Corporate structure
From 1962 until 2021, Xerox maintained a joint venture named Fuji Xerox with Japanese company Fujifilm to create and distribute products across the Asia-Pacific market. In January 2020, Fujifilm declared it would discontinue the technology partnership; consequently, Fuji Xerox was renamed Fujifilm Business Innovation in April 2021.
Xerox India, initially established as Modi Xerox through a partnership with Dr. Bhupendra Kumar Modi and Rank Xerox in 1983, transitioned into a majority-owned subsidiary after Xerox gained controlling interest in 1999 and is pursuing complete ownership of remaining shares.
NewField IT operates as a fully owned subsidiary specializing in implementing and supporting third-party software solutions for managed print services (MPS) providers.
Rank Xerox
Rank Xerox originated as a collaborative enterprise between Xerox and The Rank Organisation, subsequently extending its operations throughout Europe, Asia, and Africa. In 1997, Xerox Corporation acquired full ownership, leading to the discontinuation of the Rank Xerox brand. Following this change, the Rank Xerox Research Centre in France was rebranded as Xerox Research Centre Europe. In 2017, this facility was sold to South Korean IT company Naver Corporation and renamed Naver Labs Europe.
Sponsorship
Xerox serves as a sponsor for the Factory Ducati Team competing in the World Superbike Championship, under the name "Xerox Ducati." In November 2024, it was announced that Xerox would begin a partnership with the Aston Martin Formula 1 Team starting in 2025.
Accounting irregularities
On May 31, 2001, Xerox disclosed that its auditors had approved restated financial statements covering the years 1998 through 2000. In March 2002, the company revised over $2 billion in equipment sales revenue due to adjustments in revenue recognition policies—specifically, recognizing lease revenue at contract inception rather than over the lease term. This modification altered the timing of revenue recognition without invalidating the total amounts reported.
In April 2002, the Securities and Exchange Commission (SEC) filed charges accusing Xerox of employing accounting tactics to artificially boost revenue from 1997 to 2000. Xerox agreed to pay a $10 million fine and restate its financial reports for those years without admitting any wrongdoing. Later that year, the company revealed a minor miscalculation related to non-cash interest expenses impacting earnings from 2001 to 2002.
By June 2003, six top executives reached settlements with the SEC concerning securities fraud allegations, collectively paying $22 million while denying guilt. The company’s overall settlement received final approval in 2008.
In January 2003, the SEC initiated legal action against KPMG, Xerox’s auditing firm, accusing it of facilitating accounting misstatements involving approximately $3 billion in revenue discrepancies and $1.4 billion in pre-tax earnings. KPMG settled in April 2005 by paying a $22.48 million penalty without admitting fault. Additionally, Xerox paid a $10 million civil fine.
Following these incidents, Xerox undertook a corporate rebranding effort in September 2004 by enlarging its logo and removing both "The Document Company" slogan and the digital X icon—though Fuji Xerox continued using these elements until April 2008.
Character substitution bug
In 2013, German computer scientist David Kriesel identified a software defect affecting Xerox WorkCentre 7535 copiers that resulted in numeric digits being incorrectly replaced during scanning processes—even when OCR was disabled. For instance, an amount of 65.40 might be scanned as 85.40. After unsuccessful attempts to obtain a resolution from Xerox support, Kriesel publicized his discovery, confirming that multiple models within the WorkCentre series were impacted.
This problem originated from a flaw within the JBIG2 image compression standard, which relies on pattern matching for encoding recurring characters but can mistakenly substitute visually similar digits.
Kriesel suggested a workaround by adjusting image quality settings from "normal" to "higher" or "high." Xerox had previously acknowledged this issue within their documentation, noting its occurrence in "normal mode." Initially, Xerox characterized the bug as infrequent and attributed it to modified factory settings. However, after Kriesel demonstrated that it affected all quality modes including default configurations, Xerox updated their stance and released a software patch addressing the defect. They also recommend utilizing higher quality settings as an alternative solution.
This episode underscores challenges related to product reliability and customer support responsiveness at Xerox, affecting their standing in document management technology and emphasizing the critical need for timely software updates to sustain market confidence.
Trademark
The word xerox is commonly employed as a substitute for photocopy in everyday speech, functioning both as a noun and a verb, despite Xerox Corporation's persistent efforts to prevent this term from becoming generic. The company actively safeguards its trademark by running advertising initiatives and issuing communications that discourage the use of "Xerox" as a verb, stressing that document copying should only be associated with Xerox-brand equipment. This approach aligns with the firm's broader business strategy to preserve its competitive edge and influence within the marketplace.
Although Xerox undertakes these protective measures, numerous dictionaries, including the Oxford English Dictionary, continue to recognize "xerox" as a verb. In 2012, India's Intellectual Property Appellate Board confirmed Xerox's trademark rights after decades of uninterrupted use and registration, thereby strengthening the company's legal standing and global operations. Nonetheless, the generic application of the term remains prevalent in India and other regions.
Xerox maintains active engagement with media representatives and journalists to uphold its trademark, underlining the significance of this protection for its brand identity and financial health. This vigilant trademark management is integral to Xerox's strategic leadership in intellectual property, which is essential for maintaining its industry reputation and market position.
In popular media, such as the 2025 movie "M3GAN 2.0", concerns regarding trademark infringement influenced branding decisions, leading to the creation of the fictional company name "Xenox" to avoid legal complications.
See also
- Faxlore, frequently referred to as 'Xeroxlore'
- List of Indian IT companies