TORONTO - LaserNetworks, an Ontario-based managed print services provider, has been acquired by Xerox Corp. (NYSE:XRX) for an undisclosed price, the American document company giant announced Wednesday.
"Our acquisition of LaserNetworks expands our services footprint in Canada, enhancing our capabilities and distancing us from our competitors," Xerox Canada president and CEO Mandy Shapansky said in a release.
LaserNetworks, which employs 189 people in sales, service and business operations, provides support services for more than 40,000 print-related devices in offices across Canada.
It will operate as a wholly-owned subsidiary of Xerox Canada with LaserNetworks founder and CEO Chris Stoate continuing to lead the company and reporting to Shapansky.
Based in Oakville, Ont., LaserNetworks provides solutions that include print device tracking, centralized service and supply management and document routing.
Norwalk, Conn.,-based Xerox is a $22.5-billion global enterprise employing some 134,000 people in more than 160 countries. It provides leading-edge document technology, services, software and supplies as well as extensive business process and IT outsourcing services.
Original Post