Benzinga | Apr 26, 2021 01:15PM EDT

Xerox Acquires Groupe CT To Extend North American SMB Presence

* Xerox Holdings Corp (NYSE: XRX) acquired Eastern Canada's independent document management provider Groupe CT to expand its presence in the North American small and midsize business (SMB) market, Xerox President Mike Feldman said.

* Xerox acquired Western Canada's independent services, software, and technology provider Digitex in March 2020.

* The financial terms of the transaction were not disclosed.

* Groupe CT's document management services expertise and leadership combined with Xerox's portfolio of workplace solutions rendered Xerox as well placed to serve SMBs focused on fast-tracking of digital transformation roadmap, stated Feldman.

* Xerox held $2.4 billion in cash and equivalents as of Mar. 31, 2021.

* Price action: XRX shares traded higher by 1.17% at $24.66 on the last check Monday.