tech:

taffy

Xerox splitting into two companies; names $7bn BPO business ‘Conduent’

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.

You may also be interested in:

Just in

Apple sued in a landmark iPhone monopoly lawsuit — CNN

The US Justice Department and more than a dozen states filed a blockbuster antitrust lawsuit against Apple on Thursday, accusing the giant company of illegally monopolizing the smartphone market, writes Brian Fung, Hannah Rabinowitz and Evan Perez.

Google is bringing satellite messaging to Android 15 — The Verge

Google’s second developer preview for Android 15 has arrived, bringing long-awaited support for satellite connectivity alongside several improvements to contactless payments, multi-language recognition, volume consistency, and interaction with PDFs via apps, writes Jess Weatherbed. 

Reddit CEO Steve Huffman is paid more than the heads of Meta, Pinterest, and Snap — combined — QZ

Reddit co-founder and CEO Steve Huffman has been blasted by Redditors and in media reports over his recently-revealed, super-sized pay package of $193 million in 2023, writes Laura Bratton. 

British AI pioneer Mustafa Suleyman joins Microsoft — BBC

Microsoft has announced British Artificial Intelligence pioneer Mustafa Suleyman will lead its newly-formed division, Microsoft AI, according to the BBC report. 

UnitedHealth Group has paid more than $2 billion to providers following cyberattack — CNBC

UnitedHealth Group said Monday that it’s paid out more than $2 billion to help health-care providers who have been affected by the cyberattack on subsidiary Change Healthcare, writes Ashley Capoot.