Fuji Xerox has decided not to renew the Technology Agreement it signed with Xerox when it expires on 31 March 2021. This agreement covers technology/brand licenses and sales territories applicable to each company.
This paves the way for Fuji Xerox to branch out from its traditional Asia Pacific region to start selling into other markets, specifically the US and EU, and essentially Fuji Xerox is marking Xerox’s card by pointing this out now. Interestingly, the two companies will continue to supply products to each other even after this agreement has expired.
At the same time, Fuji Xerox will change its name to Fujifilm Business Innovation Corp from 1 April 2021. The company has also announced its intention to integrate more tightly with the rest of the Fujifilm Group by accelerating the market introduction of solutions and services that build on technologies related to the cloud, artificial intelligence, and the Internet of Things. Fuji Xerox has also said that it intends to strengthen its document businesses and to expand into new business areas.
Kouichi Tamai, president and representative director of Fuji Xerox, pointed out that this gives Fuji Xerox more freedom to operate globally, saying: “Today’s announcement of ending the Technology Agreement with Xerox Corporation opens doors for Fuji Xerox to, after April 2021, utilize our own technologies and synergize with technologies owned by other Fujifilm Group companies to produce/market products and solutions under our own new brand worldwide.”
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