Modi Xerox acquires Tektronix India

BANGALORE: The Indian subsidiary of Xerox Corp, Modi Xerox,
has acquired Tektronix Inc.'s wholly-owned Indian subsidiary for $1.5 million
(around Rs 66 crore) as part of the worldwide acquisition of the company by
Xerox Corp.

Globally Xerox Corporation has acquired Tektronix Inc.'s
color printing and imaging division for $925 million. Following this
acquisition, Tektronix Inc.'s Indian subsidiary will merge with Modi Xerox's
Indirect Marketing Group (IMG), a company statement said.

Tektronix which has a 50 per cent share in the office color
printing business worldwide would help Modi Xerox to create a full line of
office printing products to increase its presence in this sector, it said.

"Company is in a unique position to offer complete range
of color printing products to our customers and the acquisition provided a
complementary product range and enhances our market," Modi Xerox managing
director H. N. Nanani said.

Initially, Modi Xerox would offer three models for sale in
the Indian market that includes a solid ink printer. Xerox simultaneously
launched office printing business (OFB) which will merge both the company's
technology, marketing creativity and distribution channels.