TORONTO, January 4, 2012 – Xerox Corporation (NYSE: XRX) today announced it has acquired LaserNetworks, a leading managed print services (MPS) provider in Canada that helps businesses cut costs and reduce the time employees spend on print-related activities.
Based in Oakville, Ontario, LaserNetworks provides MPS solutions that include print device tracking, centralized service and supply management and document routing.
“Our acquisition of LaserNetworks expands our services footprint in Canada, enhancing our capabilities and distancing us from our competitors. It is further evidence of Xerox’s transformation into a services-led, technology-driven company,” said Mandy Shapansky, president and CEO, Xerox Canada.
LaserNetworks currently provides support services for more than 40,000 print-related devices in offices across Canada. It will operate as a wholly-owned subsidiary of Xerox Canada with LaserNetworks founder and CEO Chris Stoate continuing to lead the company, reporting to Shapansky. The company employs 189 people in sales, services and business operations.
“By becoming part of such an esteemed company with well respected industry leadership, we exponentially increase our ability to deliver more customer value,” said Stoate. “We’re combining our collective industry expertise and innovative technologies to help our clients take full advantage of the benefits managed print services bring to their workplaces.”