Xerox announced the names of the new companies that will be created following the completion of its separation into two publicly traded companies. The business process outsourcing company will be named Conduent Inc. and the document technology company will continue to be called Xerox Corp.
The name Conduent is inspired by the new company’s expertise in connecting clients and their constituents through seamless transactions at massive scale in areas such as customer care, transportation solutions, and healthcare payer and provider services. Conduent reflects the company’s position as a partner to businesses and governments, delivering experiences that drive satisfaction and retention among consumers, patients, commuters and employees.
With approximately $7 billion in 2015 revenue and 96,000 employees worldwide, Conduent will be a Fortune 500-scale business process services company, with expertise in transaction-intensive processing, analytics and automation. Conduent’s differentiated offerings touch millions of lives, including two-thirds of all insured patients in the U.S. and more than one-half of all mobile phone subscribers in the U.S. It will have the second-largest market share in the business process outsourcing industry.
The company also announced that the Document Technology company will retain the Xerox brand name.