Xerox allocates USD100m for outsourcing acquisitions

Xerox is allocating about USD100m to acquire smaller outsourcing companies this year as part of efforts to grow. The allocation was confirmed by Ursula Burns, the chairman of the Connecticut-based technology giant. The announcement also comes months after Xerox separates its BPO business from its core document technology unit. The BPO business is now called Conduent. Burns said the target will be smaller firms in the outsourcing sector. Xerox has already spent USD18m on acquisitions this year, although Burns did not reveal the name of the company that Xerox acquired in the past seven months period. It was in 2010 when Xerox moved formally into the BPO business following its acquisition of Affiliated Computer Services Inc for USD6bn.