Xerox® Corporation (NYSE: XRX) is an American multinational document management corporation that produces and sells a range of color and black-and-white printers, multifunction systems, photocopiers, digital production printing presses, and related consulting services and supplies. Xerox® is headquartered in Norwalk, Connecticut (moved from Stamford, Connecticut in October 2007), though its largest population of employees is based in and around Rochester, New York, the area in which the company was founded. On September 28, 2009, Xerox® announced the intended acquisition of Affiliated Computer Services for $6.4 billion. The deal closed on February 8, 2010. Xerox® holds a Royal Warrant from HM Queen Elizabeth II and the Prince of Wales.
Xerox® was founded in 1906 in Rochester as The Haloid Photographic Company, which originally manufactured photographic paper and equipment. The company subsequently changed its name to Haloid Xerox® in 1958 and then simply Xerox® in 1961. Xerography, a modern word meaning "dry writing" developed from two Greek roots, is the name of the process invented in 1938 and developed by Haloid Company. The company came to prominence in 1959 with the introduction of the Xerox® 914, the first plain paper photocopier using the process of Electro-photography, (later changed to xerography) discovered by Chester Carlson, which he developed with John H. Dessauer. The 914 was so popular that by the end of 1961, Xerox® had almost $60 million in revenue. By 1965, revenues leaped to over $500 million. Before releasing the 914, Xerox® had tested the market by introducing a developed version of the prototype Hand equipment, known as the Flat-plate 1385. This was followed by the first automatic xerographic printer, the Copyflo, in 1955. The Copyflo was a large microfilm printer, producing positive prints, on roll paper, from any type of microfilm negative. Following the Copyflo, the process was scaled down to produce the 1824 microfilm printer.
Xerox® today manufactures and sells a wide variety of office and production equipment including LCD Monitors, photo copiers, Xerox® Phaser printers, multifunction printers, large-volume digital printers as well as workflow software under the brand strategy of FreeFlow. The impact of Xerox® FreeFlow products on the graphic arts market and the print industry in general has grown exponentially since May 2006, largely as a result of the Xerox® presence at IPEX 2006. Xerox® also sells scanners and digital presses. On 29 May 2008, Xerox® launched the Xerox® iGen4 Press.
Xerox® sells both color and black and white printers under the Xerox® Phaser brand, with the color consumer model starting at US$299; the most expensive color model costs US$6,799.
Xerox® also produces fax machines, professional printers, black and white copiers, and several other products. In addition, Xerox® produces many printing and office supplies such as paper, in many forms; and markets software such as Xerox® DocuShare, Xerox® MarketPort and FlowPort, offers consulting services, ECM Digital Repository Services and printing outsourcing.
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