Fuji Xerox Co Ltd has decided to end the Technology Agreement with Xerox Corporation on the agreement’s expiration date, March 31, 2021, and notified Xerox Corporation of its decision. The Technology Agreement provides for technology/brand licenses and sales territories applicable to each company.
Fuji Xerox and Xerox Corporation have benefitted from the shared use of technologies each company independently developed. Today, however, thanks to improvements in the speed and level of Fuji Xerox’s product development, Fuji Xerox develops, manufactures and delivers its original products to Xerox Corporation based on Fuji Xerox’s unique technologies. As such, Fuji Xerox will continue to provide Xerox products based on Fuji Xerox technologies after the Technology Agreement with Xerox Corporation ends.
Further, under the Technology Agreement, which provided the sales territories for each company, Fuji Xerox has been engaged in sales activities in the Asia-Pacific region with the ‘Fuji Xerox’ brand whereas Xerox Corporation has been engaged in sales with the ‘Xerox’ brand in the other regions. The decision to end the Technology Agreement will result in the removal of such sales territory restrictions from April 2021, paving the way for Fuji Xerox to expand its business worldwide under a new original brand.