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This article was published on November 6, 2019

Xerox is reportedly considering buying HP (Update)

Xerox is reportedly considering buying HP (Update)
Ivan Mehta
Story by

Ivan Mehta

Ivan covers Big Tech, India, policy, AI, security, platforms, and apps for TNW. That's one heck of a mixed bag. He likes to say "Bleh." Ivan covers Big Tech, India, policy, AI, security, platforms, and apps for TNW. That's one heck of a mixed bag. He likes to say "Bleh."

(Update 07/11/2019 9.45 IST): According to a report by CNBC, Xerox has made a cash-and-stock offer to HP for the takeover. HP also confirmed yesterday it held talks with Xerox executives regarding the deal. 

As per a report by the Wall Street Journal, Xerox is considering buying personal computers and printer manufacturer HP in a cash-and-stock deal.

The report notes Xerox, valued at $8 billion, has backing from a major bank to take over HP, valued at $27 billion – almost three times more than the former. Sources told WSJ the deal will end up saving $2 billion in costs for both corporations.

Just to remind you, HP is now a different company from Hwellet Packard Enterprise, which sells servers, data storage, and services to companies.

Xerox is set to gain $2.3 billion by selling its 25 percent stakein the Fujifilm Xerox joint venture; the deal came to light earlier this week.

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