Xerox Corp to split in two

Xerox Corp is reportedly splitting itself into two publicly traded companies – one focusing on its hardware business and another specializing in its outsourcing service business, according to the Wall Street Journal. Xerox, which has a business process services center in the Philippines, is set to formally announce the move as part of the company’s quarterly earnings this week. The split unravels Xerox’s biggest ever acquisition, the 2010 purchase of Affiliated Computer Services Inc. for about USD6bn, which pushed Xerox deeper into providing bill processing, managing call centers and other back-office services to government agencies and corporations, according to the Wall Street Journal. Xerox employs over 147,000 people worldwide, including in the Philippines.