June 25, 2018 / 11:51 AM / 3 months ago

Xerox says to lower dependency on Fujifilm, seek new vendors

June 25 (Reuters) - Xerox Corp said on Monday it would start sourcing products from new vendors to lower its dependency on Fujifilm Holdings Corp and may not renew its technology agreement with Fuji Xerox.

Fujifilm sued Xerox last week for well over $1 billion, faulting the printer and copier company for succumbing to pressure from activist investors Carl Icahn and Darwin Deason in calling off a proposed merger agreed in January.

"Fujifilm's actions have forced us to move forward on several fronts to protect our supply chain," Xerox said in a statement.

Fuji Xerox, 75 percent owned by Fujifilm, handles contracts that supply global clients with Xerox services in the United States and Europe, and Fuji Xerox services in Asia. (Reporting by Supantha Mukherjee in Bengaluru; Editing by Anil D'Silva)

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