Xerox acquires Bennet's Business Systems

The world of mergers and acquisitions has heated up this year, as corporations with record amounts of cash on hand have moved to purchase rivals and add to their business arsenal. According to published reports, Xerox Co. is the latest such company to acquire a competitor. 

The Associated Press reports that Xerox's Global Imaging Systems division announced Friday that it had bought Bennet's Business Systems Inc. for an undisclosed amount of money.

Jacksonville, Florida-based Bennet's Business Systems is a distributor of Canon and Hewlett-Packard copiers, printers and other multifunction systems, such as fax machines. Per terms of the deal, Bennet's will immediately begin to sell Xerox's office printing devices, as it is absorbed into Xerox's Saxon Business Systems unit, a division of the company's Global Imaging Systems division.

"This acquisition combines Bennett's strong customer relationships throughout Florida with Saxon's strengths as one of the largest providers of office technology in the state," Saxon Business Systems president George Cavallaro said in a statement.

The acquisition will strengthen Xerox's strategic sourcing of suppliers, analysts assert, and will ultimately help the document management powerhouse to achieve business cost reductions.