Xerox, an Innovator Hit by Digital Revolution, Cedes Control to Fujifilm - The New York Times

Future fully fumbled

"Xerox, an icon of corporate America that pioneered the office copy machine as well as the graphic interface and mouse used with today’s computers, only to be blindsided by the digital revolution, is coming under Japanese control.

The company said on Wednesday that it would combine its operations with its joint venture with Fujifilm Holdings of Japan. Fujifilm would own just over 50 percent of the business, which would aim to cut $1.7 billion in costs in coming years.

The deal would bring to an end Xerox’s 115 years as an independent company. Its copy machines were once so popular that the word “Xerox” became a ubiquitous verb for making copies, whether on one of its machines or on those of its rivals."

Xerox, an Innovator Hit by Digital Revolution, Cedes Control to Fujifilm - The New York Times