Fuji Xerox Snaps Up CSG For $140m
Fuji Xerox Asia Pacific will snap up publicly listed print and business technology systems provider CSG for $140.8 million.
Fuji Xerox has put a deal on the table including a cash price of 31 cents for each of 449 million CSG shares, and valuing CSG’s issued equity at $140.8 million, with an enterprise value of $181.6 million.
“CSG is a strategic fit for Fuji Xerox’s global business, with our expertise in IT managed services and office solutions for the SME [small- to medium-sized enterprise] sector in Australia and New Zealand complementing Fuji Xerox’s leading print and technology operations,” said CSG chairman, Bernie Campbell.
Fuji Xerox said the combination of CSG with its Asia-Pacific business will help Fuji Xerox to strengthen its presence, and to grow its technology product and service offerings for SMEs in A/NZ.
CSG ended the 2019 financial year with a loss after tax of $1.8 million, up from the previous year’s $150 million loss.