Xerox is on its way to be split into two publicly traded companies. The company announced the names of the new companies on Tuesday, calling the Business Process Outsourcing (BPO) company Conduent. Xerox had announced the decision to separate into two companies earlier this year.

After the separation, Conduent will have approximately $7 billion in 2015 revenue and 96,000 employees worldwide. “Conduent’s differentiated offerings touch millions of lives, including two-thirds of all insured patients in the U.S. and more than half of all mobile phone subscribers in the U.S.,” said Xerox in a statement. Conduent will have the second-largest market share in the business process outsourcing industry, according to Xerox.

With approximately $11 billion in 2015 revenue and approximately 39,000 employees, Xerox – retaining its name for the document processing business – will focus on document and content technology and applications after the split, as well as managed print services and workflow solutions.

You can read a blog post on how the name ‘Conduent’ was chosen by Xerox chief marketing officer John Kennedy here.

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