Xerox (NYSE: XRX) acquired ACS in 2010, giving the business services giant a toe in the growing business process outsourcing space. Since the acquisition, ACS has continued to operated under the ACS name, but as of the latest quarterly earnings results, Xerox has announced that the ACS name is going to give way to the better known Xerox brand.
Xerox chief marketing officer Christa Carone explained:
During our transformation, we learned that the Xerox brand, known around the world, is a great asset for ACS…We increasingly see the value of going to market as one Xerox, one voice, demonstrating to clients that our services-led, technology-driven strategy offers value through the very strength of our brand.
The ACS acquisition is driving growth at Xerox, with the services segment up 6% for the quarter. Clearly, as the former ACS takes a larger share of overall company revenues, it only made sense to complete the acquisition with the name change.