HP and Xerox Acquire – But Not Each Other

HP and Xerox Acquire – But Not Each Other

HP Inc. announced the acquisition of Choose Packaging, a packaging development company and inventor of the only commercially available zero-plastic paper bottle in the world.

At the same time, Xerox Holdings Corporation (NASDAQ: XRX) announced it has acquired Powerland, a leading IT services provider in Canada, for cash.

HP’s Acquisition

HP is positioning itself to disrupt the US$10 billion fiber-based sustainable packaging market. HP’s first step in transforming this industry was the introduction of its 3D printing-enabled Molded Fiber Tooling Solution designed to bring customizable, fiber-based products to market faster and more affordably.

It has acquired Choose and its patented alternative to plastic bottles that can hold a wide variety of liquid products. Its novel, paper-based bottles are made with naturally occurring and non-toxic materials and pave the way for a new standard for bottling solutions globally.

“This acquisition is a great example of how we continue to strengthen our capabilities in attractive verticals like sustainable packaging while also driving progress against HP’s broader sustainability goals,” said Savi Baveja, Chief Strategy & Incubation Officer, HP Inc. “Choose has built a truly differentiated technology and we are excited to welcome this talented team to the HP family.”

With the integration of Choose into its Personalization & 3D Printing business, HP will focus on scaling its technology and customer footprint to expand the addressable market. There are more than 150 million tons of single-use plastics produced each year and HP intends to disrupt this market with fiber-based, 100% plastic-free packaging.

Xerox’s Acquisition

The acquisition strengthens Xerox’s IT services offerings in North America, which include cloud, cyber security, end-user computing and managed services.

“Today, the ability to quickly adapt to change and remain competitive requires a strong IT partner,” said Martin Bachant, president, Xerox Canada. “Combining the talented teams of Powerland and Xerox IT Services provides a greater value proposition for customers with support, information security expertise and technology solutions from major IT manufacturers. We manage our customers’ technology so they can manage their business.”

Powerland serves customers throughout Canada and provides a wide array of technology solutions and services including cloud, hybrid cloud, cyber security, and end-user computing solutions based on individual business needs. Powerland recently earned 2021 industry accolades including Nvidia Partner of the Year, Dell Marketing Partner of the Year North America, HPE Service Partner of the Year and Tech Data Circle of Excellence.

Recent research shows that SMBs will increase their investments in key IT solutions such as cloud infrastructure, managed IT services, collaboration solutions and cyber security. The addition of Powerland will enable Xerox to expand reach in North America to offer increased value to customers throughout Canada.

“We are thrilled to join a world-class innovator like Xerox and look forward to enhancing business outcomes and technology transformations for our clients across Canada,” said Curtis Dery, executive vice president, Powerland.

This acquisition continues Xerox’s commitment to expand its IT services business. Xerox acquired both ITEC Connect, a leader in IT services in the UK, and Digitex, an IT services provider in Canada, in March 2020. Xerox acquired Competitive Computing (C2), a Vermont based IT services company, in October 2021. The global IT services market is sized at more than $680 billion annually according to Techaisle.

Related:

• Xerox Accuses HP Board of Disservice to its Stockholders
• Xerox Acquires, but it’s not HP
• HP Board Members Sued Over Xerox Hostile Offer
• Xerox Blames Pandemic for Abandoning HP Bid
• HP Inc. CEO Discusses Xerox Bid and More

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