Xerox India is the Indian subsidiary of Xerox Corporation, based in Gurgaon, India the American printer, photocopier, document supplies, technology & services company.
Originally Modi Xerox, the business was derived from a joint venture formed between Dr Bhupendra Kumar Modi through ModiCorp (now Spice Group) and Rank Xerox in September 1983. The share structure was 40% ModiCorp, 40% Rank Xerox and 20% private shareholders. It built upon an earlier co-operation, Indian Xerographic Systems, formed in 1982. Other partnerships included Modi Xerox Software Systems, created in 1995 and Modi Xerox Financial Services.
Rank Xerox was absorbed into Xerox Corporation in 1997 and Xerox obtained a majority stake in Modi Xerox in 1999. After obtaining majority ownership of Modi Xerox, it was renamed Xerox ModiCorp and the software and financial services operations were incorporated into the main business.
Read more about Xerox India: Financial Irregularities
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