Successful Integration of Lexmark and ITsavvy
The integration of Lexmark and ITsavvy has been largely successful with additional $50 million in synergy opportunities identified. Early integration efforts resulted in the elimination of 1,200 roles, expected to save more than $125 million by year-end.
IT Solutions Business Growth
The IT Solutions segment grew pro forma revenue by over 12% in actual currency, driven by public sector deployments and increased cross-selling momentum.
Free Cash Flow Improvement
Free cash flow increased to $131 million, a $24 million improvement over the prior year.
AI and Operational Efficiency Initiatives
Xerox launched an AI center of excellence to enhance operational efficiencies, expecting AI-driven savings to add to existing synergy savings opportunities.