Xerox to acquire Germany-based Invoco in bid to expand its European customer care services; transaction expected to close following completion of customary closing conditions

Mathew Kearney

NORWALK, Connecticut , December 23, 2013 (press release) – Xerox (NYSE: XRX) today announced an agreement to acquire German-based Invoco Holding GmbH, expanding its European customer care services.

The transaction is expected to close following the completion of customary closing conditions.

Invoco will provide Xerox's global customer base with immediate access to industry-leading German language customer care services while enabling Invoco's existing customers to take advantage of Xerox's broad business process outsourcing (BPO) capabilities, including customer care service spanning 175 facilities and serving clients in more than 30 languages.

'Invoco will blend seamlessly with our current operations as we expand our BPO footprint in Germany and execute our European customer care strategy,' Simon Verzijl, group president of Xerox's commercial business process outsourcing in Europe. 'Together our goal is to expand service and capability across Europe to new and existing local market and multi-national clients.'

This acquisition follows Xerox's similar customer care acquisitions in the European market, including Unamic (Benelux region) in 2011, and both WDS (U.K.) and XL World (Italy) in 2012. The addition of Invoco's German-speaking capabilities expands Xerox's customer care language capabilities that are now offered in facilities in the United Kingdom, France, Netherlands, Belgium, Turkey, Czech Republic, Romania, Italy and Albania.

The Invoco management team will remain unchanged and continue to be led by Rainer Diekmann, Invoco's chief executive officer. After closing, the company will go to market as 'Invoco, A Xerox Company'.

'This transaction enables Invoco to expand Xerox's capabilities in Germany and provides the opportunity to expand our services to countries with strong German language requirements, such as Switzerland and Austria,' said Rainer, who helped establish Invoco in 2007.

Headquartered in Hamburg, Invoco's 1,800 employees offer deep expertise in the cable industry allowing Xerox to add to the suite of industries where it leads in customer care, including telecom, transportation, technology, retail, and travel.

About Xerox

Since the invention of Xerography 75 years ago, the people of Xerox (NYSE: XRX) have helped businesses simplify the way work gets done. Today, we are the global leader in business process and document management, helping organizations of any size be more efficient so they can focus on their real business. Headquartered in Norwalk, Conn., more than 140,000 Xerox employees serve clients in 160 countries, providing business services, printing equipment and software for commercial and government organizations. Learn more at www.xerox.com.

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