Following the Copyflo, the process was scaled down to produce the 1824 microfilm printer.
Xerox also released a 4045 desktop laser printer whose cartridges could print 50,000 pages (instead of 5,000), but the model never caught on, and Xerox abandoned future efforts to focus more on its core businesses. ==History== Xerox was founded in 1906 in Rochester, New York, as The Haloid Photographic Company.
It manufactured photographic paper and equipment. In 1938, Chester Carlson, a physicist working independently, invented a process for printing images using an electrically charged photoconductor-coated metal plate and dry powder "toner".
He saw the promise of Carlson's invention and, in 1946, signed an agreement to develop it as a commercial product.
Having started as a supplier to the offset lithography duplicating industry, Xerox now set its sights on capturing some of offset's market share. The 1385 was followed by the first automatic xerographic printer, the Copyflo, in 1955.
Revenues leaped to over $500 million by 1965. === Xeronic Computer Printer === In 1956, Haloid formed a joint venture in the UK with Rank Organisation whose Rank Precision Industries Ltd.
Wilson remained as President/CEO of Xerox until 1967 and served as Chairman until his death in 1971. Looking for a term to differentiate its new system, Haloid coined the term xerography from two Greek roots meaning "dry writing". Haloid changed its name to Haloid Xerox in 1958 and then Xerox Corporation in 1961. Before releasing the 914, Xerox tested the market by introducing a developed version of the prototype hand-operated equipment known as the Flat-plate 1385.
A scaled-down version of this gripper feed system was to become the basis for the 813 desktop copier. ===Xerox 914=== The company came to prominence in 1959 with the introduction of the Xerox 914, "the most successful single product of all time." The 914, the first plain paper photocopier, was developed by Carlson and John H.
More than 200,000 units were made around the world between 1959 and 1976, the year production of the 914 was stopped.
It printed 2,888 lines per minute, slower than the target of 5,000 lpm. ===1960s=== In the 1960s, Xerox held a dominant position in the photocopier market, and the company expanded substantially, making millionaires of some long-suffering investors who had nursed the company through the slow research and development phase of the product. In 1960, a xerography research facility called the Wilson Center for Research and Technology was opened in Webster, New York.
In 1969, Xerox acquired Scientific Data Systems (SDS), which it renamed the Xerox Data Systems (XDS) division and which produced the Sigma line and its successor XDS 5xx series of mainframe computers in the 1960s and 1970s.
Wilson remained as President/CEO of Xerox until 1967 and served as Chairman until his death in 1971. Looking for a term to differentiate its new system, Haloid coined the term xerography from two Greek roots meaning "dry writing". Haloid changed its name to Haloid Xerox in 1958 and then Xerox Corporation in 1961. Before releasing the 914, Xerox tested the market by introducing a developed version of the prototype hand-operated equipment known as the Flat-plate 1385.
Dessauer; it was so popular that by the end of 1961 Xerox had almost $60 million in revenue.
In 1961, the company changed its name to Xerox Corporation.
Xerox common stock (XRX) was listed on the New York Stock Exchange in 1961 and on the Chicago Stock Exchange in 1990. In 1963, Xerox introduced the Xerox 813, the first desktop plain-paper copier, realizing Carlson's vision of a copier that could fit on anyone's office desk.
In 1962, Lyons Computers Ltd.
It purchased University Microfilms International in 1962, Electro-Optical Systems in 1963, and R.
Xerox common stock (XRX) was listed on the New York Stock Exchange in 1961 and on the Chicago Stock Exchange in 1990. In 1963, Xerox introduced the Xerox 813, the first desktop plain-paper copier, realizing Carlson's vision of a copier that could fit on anyone's office desk.
It purchased University Microfilms International in 1962, Electro-Optical Systems in 1963, and R.
placed an order for use with their LEO III computer, and the printer was delivered in 1964.
The LDX system was introduced in 1964.
Revenues leaped to over $500 million by 1965. === Xeronic Computer Printer === In 1956, Haloid formed a joint venture in the UK with Rank Organisation whose Rank Precision Industries Ltd.
The 813 was similarly developed into the 330 and 660 products and, eventually, also the 740 desktop microfiche printer. Xerox's first foray into duplicating, as distinct from copying, was with the Xerox 2400, introduced in 1966.
Bowker. ===1990s=== In 1990, Paul Allaire, a Xerox executive since 1966, succeeded David Kearns, who had reached mandatory retirement age.
Wilson remained as President/CEO of Xerox until 1967 and served as Chairman until his death in 1971. Looking for a term to differentiate its new system, Haloid coined the term xerography from two Greek roots meaning "dry writing". Haloid changed its name to Haloid Xerox in 1958 and then Xerox Corporation in 1961. Before releasing the 914, Xerox tested the market by introducing a developed version of the prototype hand-operated equipment known as the Flat-plate 1385.
The fax operation in today's multifunction copiers is true to Carlson's original vision for these devices. In 1968, C.
In 1969, Xerox acquired Scientific Data Systems (SDS), which it renamed the Xerox Data Systems (XDS) division and which produced the Sigma line and its successor XDS 5xx series of mainframe computers in the 1960s and 1970s.
In 1969, Xerox acquired Scientific Data Systems (SDS), which it renamed the Xerox Data Systems (XDS) division and which produced the Sigma line and its successor XDS 5xx series of mainframe computers in the 1960s and 1970s.
Laser printing eventually became a multibillion-dollar business for Xerox. In the late 1970s, Xerox introduced the "Xerox 350 color slide system" This product allowed the customer to create digital word and graphic 35mm slides.
It took off with many customers, but was soon replaced with its smaller and lower cost 2700 Distributed Electronic Printer offering in 1982. ===Palo Alto Research Center=== In 1970, under company president C.
Wilson remained as President/CEO of Xerox until 1967 and served as Chairman until his death in 1971. Looking for a term to differentiate its new system, Haloid coined the term xerography from two Greek roots meaning "dry writing". Haloid changed its name to Haloid Xerox in 1958 and then Xerox Corporation in 1961. Before releasing the 914, Xerox tested the market by introducing a developed version of the prototype hand-operated equipment known as the Flat-plate 1385.
Xerox sold XDS to Honeywell in 1975. ===1970s=== Archie McCardell was named president of the company in 1971.
Kearns, a Xerox executive since 1971, took over as CEO in 1982.
Ten years later, in 1973, a basic, analogue, color copier, based on the 914, followed.
During McCardell's reign at Xerox, the company announced record revenues, earnings and profits in 1973, 1974, and 1975.
Xerox management was afraid the product version of Starkweather's invention, which became the 9700, would negatively impact their copier business so the innovation sat in limbo until IBM launched the 3800 laser printer in 1976. The first commercial non-impact printer was the Xerox 1200, introduced in 1973, based on the 3600 copier.
From these inventions, Xerox PARC created the Xerox Alto in 1973, a small minicomputer similar to a modern workstation or personal computer.
During McCardell's reign at Xerox, the company announced record revenues, earnings and profits in 1973, 1974, and 1975.
Xerox sold XDS to Honeywell in 1975. ===1970s=== Archie McCardell was named president of the company in 1971.
During McCardell's reign at Xerox, the company announced record revenues, earnings and profits in 1973, 1974, and 1975.
It was followed by the 9400, which did auto-duplexing, and then by the 9500, which was which added variable zoom reduction and electronic lightness/darkness control. In a 1975 Super Bowl commercial for the 9200, Xerox debuted an advertising campaign featuring "Brother Dominic", a monk who used the 9200 system to save decades of manual copying.
Dominic, portrayed by Jack Eagle, became the face of Xerox into the 1980s. Following these years of record profits, in 1975, Xerox resolved an anti-trust suit with the United States Federal Trade Commission (FTC), which at the time was under the direction of Frederic M.
More than 200,000 units were made around the world between 1959 and 1976, the year production of the 914 was stopped.
Xerox management was afraid the product version of Starkweather's invention, which became the 9700, would negatively impact their copier business so the innovation sat in limbo until IBM launched the 3800 laser printer in 1976. The first commercial non-impact printer was the Xerox 1200, introduced in 1973, based on the 3600 copier.
It had an optical character generator designed by optical engineer Phil Chen. In 1977, following IBM's laser printer introduction, the Xerox 9700 was introduced.
copier market dropped from nearly 100% to less than 14%. In 1979, Xerox purchased Western Union International (WUI) as the basis for its proposed Xerox Telecommunications Network (XTEN) for local-loop communications.
In addition, PARC also developed one of the earliest internetworking protocol suites, the PARC Universal Packet (PUP). In 1979, Steve Jobs made a deal with Xerox's venture capital division: He would let them invest $1 million in exchange for a look at the technology they were working on.
Dominic, portrayed by Jack Eagle, became the face of Xerox into the 1980s. Following these years of record profits, in 1975, Xerox resolved an anti-trust suit with the United States Federal Trade Commission (FTC), which at the time was under the direction of Frederic M.
The company was revived in the 1980s and 1990s, through improvement in quality design and realignment of its product line.
Many of the concepts used in today's "Photo Shop" programs were pioneered with this technology. In 1980, Xerox announced the 5700 laser printing system, a much smaller version of their 9700, but with revolutionary touch screen capabilities and multiple media input (word processing disks, IBM magcards, etc.) and printer 'finishing' options.
Jobs is quoted as saying, "They just had no idea what they had." In 1980, Jobs invited several key PARC researchers to join his company so that they could fully develop and implement their ideas. In 1981, Xerox released a system similar to the Alto, the Xerox Star.
Attempting to expand beyond copiers, in 1981 Xerox introduced a line of electronic memory typewriters, the Memorywriter, which gained 20% market share, mostly at the expense of IBM. In 1983, Xerox bought Crum & Forster, an insurance company, and formed Xerox Financial Services (XFS) in 1984. In 1985, Xerox sold all of its publishing subsidiaries including University Microfilms and R.
Jobs is quoted as saying, "They just had no idea what they had." In 1980, Jobs invited several key PARC researchers to join his company so that they could fully develop and implement their ideas. In 1981, Xerox released a system similar to the Alto, the Xerox Star.
However, after three years, in 1982, the company decided the idea was a mistake and sold its assets to MCI at a loss. ===1980s=== David T.
Kearns, a Xerox executive since 1971, took over as CEO in 1982.
It took off with many customers, but was soon replaced with its smaller and lower cost 2700 Distributed Electronic Printer offering in 1982. ===Palo Alto Research Center=== In 1970, under company president C.
Attempting to expand beyond copiers, in 1981 Xerox introduced a line of electronic memory typewriters, the Memorywriter, which gained 20% market share, mostly at the expense of IBM. In 1983, Xerox bought Crum & Forster, an insurance company, and formed Xerox Financial Services (XFS) in 1984. In 1985, Xerox sold all of its publishing subsidiaries including University Microfilms and R.
Bhupendra Kumar Modi and Rank Xerox in 1983.
Attempting to expand beyond copiers, in 1981 Xerox introduced a line of electronic memory typewriters, the Memorywriter, which gained 20% market share, mostly at the expense of IBM. In 1983, Xerox bought Crum & Forster, an insurance company, and formed Xerox Financial Services (XFS) in 1984. In 1985, Xerox sold all of its publishing subsidiaries including University Microfilms and R.
The Apple Macintosh was released in 1984, and was the first personal computer to popularize the GUI and mouse among the public. In 2002, PARC was spun off into an independent wholly-owned subsidiary of Xerox. ==Chief executives== ==Products and services== Xerox manufactures and sells a wide variety of office equipment including scanners, printers, and multifunction systems that scan, print, copy, email and fax.
Attempting to expand beyond copiers, in 1981 Xerox introduced a line of electronic memory typewriters, the Memorywriter, which gained 20% market share, mostly at the expense of IBM. In 1983, Xerox bought Crum & Forster, an insurance company, and formed Xerox Financial Services (XFS) in 1984. In 1985, Xerox sold all of its publishing subsidiaries including University Microfilms and R.
Xerox released the 6085 desktop publishing system in 1986, before IBM and Microsoft, but an inferior operating system, obsolete hard drive (a 20 MB drive weighed over 40 lbs/18 kg), and weak software (documents paginated at one per second) doomed the model, as Apple and Microsoft's hardware and OS software offered much greater functionality.
Xerox common stock (XRX) was listed on the New York Stock Exchange in 1961 and on the Chicago Stock Exchange in 1990. In 1963, Xerox introduced the Xerox 813, the first desktop plain-paper copier, realizing Carlson's vision of a copier that could fit on anyone's office desk.
The company was revived in the 1980s and 1990s, through improvement in quality design and realignment of its product line.
Bowker. ===1990s=== In 1990, Paul Allaire, a Xerox executive since 1966, succeeded David Kearns, who had reached mandatory retirement age.
Allaire disentangled Xerox from the financial services industry. The development of digital photocopiers in the 1990s and a revamp of the entire product range again gave Xerox a technical lead over its competitors.
In 1990, Xerox released the DocuTech Production Publisher Model 135, ushering in print-on-demand.
Xerox worked to turn its product into a service, providing a complete document service to companies including supply, maintenance, configuration, and user support. To reinforce this image, the company introduced a corporate signature in 1994, "The Document Company", above its main logo and introduced a red digital X.
The digital X symbolized the transition of documents between the paper and digital worlds. In April 1999, Allaire was succeeded by Richard Thoman, who had been brought in from IBM in 1997 as president.
Xerox obtained a majority stake in 1999 and aims to buy out the remaining shareholders. NewField IT is a wholly owned subsidiary of Xerox that implements and supports third party software for MPS providers. Xerox now sponsors the Factory Ducati Team in the World Superbike Championship, under the name of the "Xerox Ducati". ==Rank Xerox== The European company Rank Xerox, later extended to Asia and Africa, has been fully owned by Xerox Corporation since 1997.
The complaint alleged Xerox deceived the public between 1997 and 2000 by employing several "accounting maneuvers," the most significant of which was a change in which Xerox recorded revenue from copy machine leases – recognizing a "sale" when a lease contract was signed, instead of recognizing revenue over the entire length of the contract.
It agreed to pay a $10 million penalty and to restate its financial results for the years 1997 through 2000.
The digital X symbolized the transition of documents between the paper and digital worlds. In April 1999, Allaire was succeeded by Richard Thoman, who had been brought in from IBM in 1997 as president.
Xerox obtained a majority stake in 1999 and aims to buy out the remaining shareholders. NewField IT is a wholly owned subsidiary of Xerox that implements and supports third party software for MPS providers. Xerox now sponsors the Factory Ducati Team in the World Superbike Championship, under the name of the "Xerox Ducati". ==Rank Xerox== The European company Rank Xerox, later extended to Asia and Africa, has been fully owned by Xerox Corporation since 1997.
The first "outsider" to head Xerox, Thoman resigned in 2000. ===2000s=== After Thoman's resignation, Allaire again resumed the position of CEO and served until the appointment of Anne M.
Xerox's turnaround was largely led by Mulcahy, who was appointed president in May 2000, CEO in August 2001 and chairman in January 2002.
She launched an aggressive turnaround plan that returned Xerox to full-year profitability by the end of 2002, along with decreasing debt, increasing cash, and continuing to invest in research and development. In 2000, Xerox acquired Tektronix color printing and imaging division in Wilsonville, Oregon, for US$925 million.
International Internet company NAVER acquired Xerox Research Centre Europe in June 2017. ==Accounting irregularities== On May 31, 2001, Xerox Corporation announced that its auditors, KPMG LLP, had certified Xerox's financial statements for the three years ended December 31, 2000.
The complaint alleged Xerox deceived the public between 1997 and 2000 by employing several "accounting maneuvers," the most significant of which was a change in which Xerox recorded revenue from copy machine leases – recognizing a "sale" when a lease contract was signed, instead of recognizing revenue over the entire length of the contract.
It agreed to pay a $10 million penalty and to restate its financial results for the years 1997 through 2000.
Xerox's turnaround was largely led by Mulcahy, who was appointed president in May 2000, CEO in August 2001 and chairman in January 2002.
International Internet company NAVER acquired Xerox Research Centre Europe in June 2017. ==Accounting irregularities== On May 31, 2001, Xerox Corporation announced that its auditors, KPMG LLP, had certified Xerox's financial statements for the three years ended December 31, 2000.
Xerox's turnaround was largely led by Mulcahy, who was appointed president in May 2000, CEO in August 2001 and chairman in January 2002.
She launched an aggressive turnaround plan that returned Xerox to full-year profitability by the end of 2002, along with decreasing debt, increasing cash, and continuing to invest in research and development. In 2000, Xerox acquired Tektronix color printing and imaging division in Wilsonville, Oregon, for US$925 million.
The Apple Macintosh was released in 1984, and was the first personal computer to popularize the GUI and mouse among the public. In 2002, PARC was spun off into an independent wholly-owned subsidiary of Xerox. ==Chief executives== ==Products and services== Xerox manufactures and sells a wide variety of office equipment including scanners, printers, and multifunction systems that scan, print, copy, email and fax.
On March 31, 2002, Xerox restated its financials which reflected the reallocation of equipment sales revenue of more than $2 billion.
On April 11, 2002, the U.S.
On June 5, 2003, six Xerox senior executives accused of securities fraud settled their issues with the SEC and neither admitted nor denied wrongdoing.
The company received approval to settle the securities lawsuit in 2008. On January 29, 2003, the SEC filed a complaint against Xerox's auditors, KPMG, alleging four partners in the "Big Five" accounting firm permitted Xerox to "cook the books" to fill a $3 billion "gap" in revenue and $1.4 billion "gap" in pre-tax earnings.
This led to the current Xerox Phaser line of products as well as Xerox solid ink printing technology. In September 2004, Xerox celebrated the 45th anniversary of the Xerox 914.
As a symbol of this transformation, the relative size of the word "Xerox" was increased in proportion to "The Document Company" on the corporate signature, and the latter was dropped altogether in September 2004, along with the digital X.
In April 2005 KPMG settled with the SEC by paying a US$22.48 million fine.
Today, the 914 is part of American history as an artifact in the Smithsonian Institution. In November 2006, Xerox completed the acquisition of XMPie.
Xerox is headquartered in Norwalk, Connecticut (having moved from Stamford, Connecticut, in October 2007), though it is incorporated in New York with its largest population of employees based around Rochester, New York, the area in which the company was founded.
XMPie, a provider of software for cross-media, variable data one-to-one marketing, was the first acquisition of Xerox to remain independent entity, as a Xerox company and not a division, and to this day is led by its original founder Jacob Aizikowitz. In October 2008, Xerox Canada Ltd.
The company received approval to settle the securities lawsuit in 2008. On January 29, 2003, the SEC filed a complaint against Xerox's auditors, KPMG, alleging four partners in the "Big Five" accounting firm permitted Xerox to "cook the books" to fill a $3 billion "gap" in revenue and $1.4 billion "gap" in pre-tax earnings.
However, the digital X and "The Document Company" were still used by Fuji Xerox until April 2008. ==Character substitution bug== In 2013, German computer scientist David Kriesel (de) discovered an error in a Xerox WorkCentre 7535 copier.
was named one of Greater Toronto's Top Employers by Mediacorp Canada Inc., which was announced by the Toronto Star newspaper. On May 21, 2009, it was announced that Ursula Burns would succeed Anne Mulcahy as CEO of Xerox.
On July 1, 2009, Burns became the first African American woman to head a company the size of Xerox. On September 28, 2009, Xerox announced the intended acquisition of Affiliated Computer Services, a services and outsourcing company, for $6.4 Billion.
The company purchased Affiliated Computer Services for $6.4 billion in early 2010.
The acquisition was completed in February 2010.
However, the digital X and "The Document Company" were still used by Fuji Xerox until April 2008. ==Character substitution bug== In 2013, German computer scientist David Kriesel (de) discovered an error in a Xerox WorkCentre 7535 copier.
As a large developed company, it is consistently placed in the list of Fortune 500 companies. On December 31, 2016, Xerox separated its business process service operations, essentially those operations acquired with the purchase of Affiliated Computer Services, into a new publicly traded company, Conduent.
This move was taken due to the relatively slow growth of this business relative to some other Xerox units. In January 2016, Xerox—reportedly under pressure from activist shareholder Carl Icahn—announced that by the end of the year it would spin off its business services unit, largely made up of Affiliated Computer Services, into its own publicly traded company.
In June 2016, the company announced that Jeff Jacobson will become the new CEO following the completion of the company's planned separation.
International Internet company NAVER acquired Xerox Research Centre Europe in June 2017. ==Accounting irregularities== On May 31, 2001, Xerox Corporation announced that its auditors, KPMG LLP, had certified Xerox's financial statements for the three years ended December 31, 2000.
Icahn and Deason responded with an open letter to shareholders blaming the board and management. On May 13 a new deal was reached that additionally cancelled the Fujifilm transaction. In November 2019, Xerox began to pursue a [takeover] of PC and printer manufacturer HP Inc., declaring its intent to "engage directly" with shareholders after HP rejected two unsolicited bids for the company.
Xerox stated in January 2020 that it would pursue the replacement of HP's board.
HP has criticized the proposed purchase as a "flawed value exchange" based on "overstated synergies", and instituted a shareholder rights plan and other measures designed to quell the bid, which the company believed was being orchestrated by Icahn. === 2020s === In February 2020, Xerox announced the hiring of Tali Rosman as VP of Xerox's 3D business.
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