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Xerox agrees to buy Tektronix's color printing division

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Rochester, N.Y.--Xerox Corp. announced Wednesday that it has agreed to purchase Tektronix's color printing and imaging division for $950 million. The acquisition of the Wilsonville, Ore.-based division would place Xerox second to Hewlett-Packard Co. in the office color printing market. The new Xerox Office Printing Business will own more than 30% market share in office color printing, a market projected to grow at an annual rate of about 23% through 2003, according to International Data Corp. With the deal, Xerox's distribution capacity will nearly double to more than 16,000 resellers and dealers worldwide. Gerry Perkel, current president of Tektronix's Color Printing and Imaging Division, will become president of Xerox Office Printing Business.
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