Xerox’s $1.05 Billion Sale of ITO Business to Atos

On December 18, 2014, Atos, an international leader in digital services, and Xerox, a global business services, technology and document management company, announced their intention for Atos to purchase Xerox’s ITO business for $1.05 billion and become a primary IT provider for Xerox. Cravath represented Xerox in connection with this transaction, which is subject to customary closing conditions, regulatory and antitrust approvals and is expected to close in the first half of 2015.

The Cravath team was led by partner George F. Schoen and included associate Edmund Mokhtarian on M&A matters; partner Eric W. Hilfers, senior attorney Jarrett R. Hoffman and associate Matthew Cantor on executive compensation and benefits matters; partner Lauren Angelilli and associates Jay S. Gill and Sara L. Lykken on tax matters; partner Matthew Morreale on environmental matters; partner David J. Kappos and practice area attorney Peter A. Emmi on intellectual property matters; partner Kevin J. Grehan and practice area attorney Gary R. Eisenman on real estate matters; and partner Christine A. Varney and associate Margaret Segall D’Amico on antitrust matters. Eric D. Rinder also worked on M&A matters and Daniel P. Herrmann also worked on executive compensation and benefits matters.