Fuji Xerox Australia is pushing ahead with its integration of the recent acquisition in CSG and its subsidiary CodeBlue, in a move expected to impact a “small number” of executive roles across the business.
The company announced internally on 25 May that it was undertaking its planned business integration process as part of the CSG and CodeBlue acquisitions.
The integration is expected to help deliver on the “businesses strategic move into digital services and complementary IT services and solutions as the traditional print business matures,” according to a spokesperson for the company.
“As a result, a small number of executive roles have been eliminated,” the spokesperson told ARN.
The company has stressed that all affected employees have access to Fuji Xerox Australia’s Employee Assistance Program provider services.
While Fuji Xerox Australia has not specified what it deems a “small number” of roles to be in terms of precise figures, across the Tasman Fuji Xerox New Zealand revealed in May that it was aiming to shed around 100 staff by the end of July as it accelerates integration plans as a result of the COVID-19 pandemic.
Peter Thomas, managing director of Fuji Xerox New Zealand, said the COVID-19 pandemic demanded that the process be expedited to make the business as strong as possible. The company-wide integration commenced in late May is now expected to be completed by early July.
Fuji Xerox subsidiary Fuji Xerox Asia Pacific completed its $140 million scheme of arrangement to buy Melbourne-based print services company CSG, along with its subsidiary CodeBlue, in February.
Through the acquisition, Fuji Xerox aims to further expand its sales office printing equipment and IT services among small- and medium-sized businesses in Australia and New Zealand.
The deal, which was announced in October last year, saw Fuji Xerox put forward a cash price of $0.31 per CSG share (449.26 million shares), valuing CSG issued equity at $140.8 million with an enterprise value of $181.6 million.
Fuji Xerox said at the time that the combination of CSG with its Asia-Pacific business will allow Fuji Xerox to strengthen its leading presence providing IT print device and managed print solutions, and to grow its technology product and service offerings for SMEs in A/NZ.