Xerox CEO on ACS Deal

" Talking all day about this busy M and a activity let's get more specifics on the Xerox deal in -- best on fox business and every who better to ask. Then the CEO of Xerox Ursula Burns great to see -- mr. burns thanks for being here. Thank you for having me appreciate integrates a great privilege of talking now. What does ACS do precisely. And that's why is it such a good fit for Xerox. "

" ACS is the world's largest diversified business process outsourcing firm. They take care of horizontal business processes for clients all over the world. -- they have the largest to the second largest and -- to medicate processing firms in in the United States. They do all of the transportation processing for a New York State or Connecticut for example for they are. Heavy into managing. Document intensive processes document in the broadest sense is self image is. Our photographs or even video say manage content that house. They manage a process four users and and again Elizabeth brazile is exactly. Why is it productive thing that's Iraq's we've been speaking a lot over time we started out as a company that was first document automation company we get a copy of which made. You know. What this little paper going you do then move to multi function devices that that connected. Printing copying scanning all into one device to -- what we'd start to grow as well without business process outsourcing business. We know what to. Vertical BP O firms won in litigation. It was called -- picking out clothes Iraq's litigation services and one in August processes. -- that it's not quotes Iraq's mortgage services both of these articles are very document intensive. So if you think about the growth that we've been trying to do within knit these. Document intensive articles together what ACS has done over its twenty year over twenty year life is to actually build a company. Of of connected vertical had actually connect them and hard central thing is cents. So we could have gone out and built out VP -- business by buying pieces. Little pieces we bought a large to be PO -- when we bought ACS now we have a lot of synergies beyond trying to trying to figure out why."

" ACS didn't accept cerberus is deal and they did except cerberus I was trying to buy just about at the same price. And in the -- we're trying to a couple of years ago to do it eight ACS didn't go for wanted to go for you and not for cerberus."

" I'm not sure of all that."

" A specific to the cerberus deal I can tell you what we added. Differently -- a strategic buyer can do different than financial buyer Xerox is rooted in technology. It's rooted in growth revenue growth that delivers profit. Obviously in -- in long term we are delivered that we are on the -- and serving our customers customers not clients with the Xerox. "

" AC gets gets ACS has the ability to scale."

" There business around the world. They're primarily US firm firm they can access to all of the document technology is Iraq's going to actually offer them that we use and how small BP O -- Business today. They get access to his Xerox brand ACS is brand is. Essentially unknown around the world even unknown United States so -- gets to gets an automatic scaling vehicle. When they come to Xerox can Xerox gets an automatic. BP over this business when we come combined with them so we can actually created. The company the company is now the largest. Believing. Document and business process management firm."

" In the world. When you try to define what it is a Xerox is. I was like to have like just just in a couple of words how would you define what Xerox is right now what kind of company is."

" We are document intensive. Business process. Company. We ought to make those processes we take them off customers' hands and that's that we do sometime this clearly technology. Other times it's how people on their sites managing the process for the -- anything from the simple technology all the."

" It really does sound it does sound like the same company that we grew up -- budgets -- some different abilities considering how technologies change."

" It's very important statement it's a very important statement and a powerful one. If you if you focus only on the technology that we deliver then you would limit the real impact that our company has won the world today. Our company works really deep in custom -- value is created we will work in the back office that makes all these front office is run. You have that everybody has them -- I T outsource and by the way this is not. -- would -- no parole systems in Dallas has not HP and EDS this is not about IT infrastructure -- one above that is what. Comes out of all of that I TE which is. Information and documents and it is generally unstructured. And it's generally a cost and efficiency burden on clients. What we'd -- even without ACS is we come and help people manage data and automated. With -- actually had. A series of articles that are amazing and we did an amazing amount of scale in the based BP opened."

" We've we've got to run miss Virginia -- rap even as fast as you talk I can't get enough questions -- but I got to ask one final. And okay did the switch from her is CO2 you went so smoothly. Do you feel like hearing your own now even though she's still part of board."

" I I felt -- like I've been in my own since I started marketed Xerox had been. And have been as saying you don't actually we'll have the company. As CEO I mean I count on a team to help me through especially in the beginning months. But I know the responsibilities from living them of being a CEO what falls on the it no one else can do. And I'm feeling fairly comfortable that with them it's early days and I have a lot of support thank goodness and a great. Great team."

" Well with all the best of luck -- it's a very important deal we -- it goes through smoothly Ursula Burns CEO George thank you very much for being with us."