The company’s corporate history begins with the incorporation of The Haloid Company in New York in 1906. The company eventually became Haloid Xerox and then Xerox Corporation in 1961. In 2019, Xerox Corporation became a wholly owned subsidiary of the newly created Xerox Holdings Corporation. 2

The name Xerox comes from xerography, the dry-copying process developed by physicist and inventor Chester Carlson.

The word is derived from Greek:

• xeros = “dry”
• graphia = “writing”

Broadly, xerography means “dry writing.” This was an important distinction from earlier copying techniques that relied on wet chemicals or photographic processes.

Carlson produced the first successful xerographic image on October 22, 1938, beginning the technological history that eventually led to Xerox’s dominance in office copying. Xerox itself describes xerography as one of the major milestones in the development of modern information technology. 3

Xerox did not originally begin as a copier company.

The company was founded in Rochester, New York, in 1906 as The Haloid Company. Its early business was associated with photographic paper and related products. 4

Meanwhile, Chester Carlson was working on a solution to a problem that affected lawyers, engineers, scientists and other professionals: how to reproduce documents easily and cheaply. Carlson was particularly interested in creating copies without requiring a conventional photographic development process.

After years of experimentation, he developed the process that became known as electrophotography, later called xerography. In 1938, Carlson and his assistant Otto Kornei successfully demonstrated the process. That invention eventually became the technological foundation of Xerox.

Carlson’s invention was revolutionary, but commercialising it was extremely difficult. Many companies initially showed little interest in the technology because it appeared complicated and expensive.

Eventually, the Haloid Company became involved. Haloid obtained rights to Carlson’s technology and worked to transform his laboratory invention into a practical commercial product.

This relationship proved enormously important:

Carlson invented xerography; Haloid/Xerox turned xerography into a mass-market business.

That distinction is important when discussing Xerox’s history. Carlson was the inventor of the underlying copying process, while Haloid was the company that commercialised it and ultimately built the Xerox corporation around it. 5

The most important product in Xerox’s history was the Xerox 914.

Introduced commercially in 1959, the 914 was one of the first practical plain-paper photocopiers. It was dramatically easier to use than earlier copying technologies: users could place an original document into the machine and produce a copy with the push of a button.

The impact was enormous. The Xerox 914:

• made office photocopying practical;
• dramatically reduced the cost and effort of reproducing documents;
• helped establish the modern office-copying industry;
• transformed Xerox from a relatively small photographic-products company into a major technology corporation.

Xerox’s own historical account describes the 914 as one of the most successful individual products of its era. 6

As xerographic copying became commercially successful, the company increasingly associated itself with the technology.

The corporate-name sequence was:

The Haloid Company → Haloid Xerox → Xerox Corporation

Haloid became Haloid Xerox Inc. in 1958, and the company adopted the name Xerox Corporation in 1961. Its stock was also listed on the New York Stock Exchange that year. 7

The Xerox name subsequently became one of the world’s best-known technology brands.

One of the most interesting aspects of the brand is that “Xerox” became a generic verb in everyday language. People began saying things such as “Xerox this document” rather than simply saying “photocopy this document.”

This is an example of genericisation, in which a trademark becomes so strongly associated with a particular product category that consumers use the brand name to describe the entire category. The phenomenon demonstrates just how dominant Xerox became in office copying.

The company, however, has historically sought to preserve Xerox as a trademark, rather than allowing it to become a legally generic term.

After the success of the 914, Xerox rapidly expanded. It developed successive generations of:

• photocopiers;
• duplicators;
• printers;
• document systems;
• office automation technologies.

The company also invested heavily in research. This investment produced an extraordinary collection of technologies that went far beyond photocopying.

Perhaps the most surprising part of Xerox’s history is its contribution to personal computing.

In 1970, Xerox established the Palo Alto Research Center, commonly known as Xerox PARC, in California. 8 PARC became one of the most influential industrial research laboratories in computing history.

Researchers there worked on technologies including:

• graphical user interfaces;
• computer mice;
• Ethernet networking;
• object-oriented programming;
• laser printing;
• personal-computer concepts;
• window-based computing;
• ubiquitous computing.

Many concepts developed at PARC later became fundamental to modern computers. Xerox therefore occupies an unusual position in technology history: it was simultaneously one of the world’s most important printing companies and an important incubator of modern computer technology.

Xerox says its researchers helped pioneer Ethernet, laser printing, graphical user interfaces and ubiquitous computing. 9

One of PARC’s most famous contributions was the development and refinement of the graphical user interface (GUI).

Instead of interacting with computers exclusively through typed commands, users could interact with:

• windows;
• icons;
• menus;
• pointers;
• graphical objects.

This approach became fundamental to modern desktop computing. The Xerox Alto, developed at PARC, demonstrated many of these ideas.

Although Xerox did not ultimately turn the Alto into the dominant mass-market personal computer, concepts developed at PARC influenced later products from companies such as Apple and Microsoft. This is one reason Xerox is frequently discussed in histories of computing, not merely histories of printing.

Another major PARC achievement was Ethernet, one of the foundational technologies of computer networking.

Ethernet allowed computers and other devices to communicate across a local network. Today, Ethernet remains fundamental to:

• corporate networks;
• data centres;
• servers;
• PCs;
• industrial systems;
• internet infrastructure.

Xerox identifies Ethernet as one of the major technologies emerging from its research heritage. 10

Xerox also played a central role in creating the modern laser printer industry.

Researcher Gary Starkweather developed laser-printing technology while working at Xerox. The resulting technology became the basis for the Xerox 9700, introduced commercially in the late 1970s.

The 9700 was capable of extremely fast printing for its time, reaching speeds of up to 120 pages per minute. 11 Laser printing subsequently became a fundamental technology for business and office printing.

During the late 20th and early 21st centuries, Xerox faced a major strategic challenge: What happens to a company built around paper when offices become increasingly digital?

Instead of remaining exclusively a copier manufacturer, Xerox increasingly expanded into:

• digital document management;
• workflow automation;
• document software;
• managed print services;
• business process services;
• IT services;
• cloud and infrastructure services.

This represented a transition from “We make copying machines” toward “We help organisations manage information and workplace technology.”

One of Xerox’s major modern businesses is Managed Print Services (MPS). Instead of simply selling a printer, Xerox can manage an organisation’s entire printing environment.

This can include:

• printers and multifunction devices;
• supplies;
• maintenance;
• security;
• monitoring;
• workflow;
• document management;
• print-cost optimisation.

The idea is to make printing an outsourced service rather than something the customer manages entirely by itself. Xerox currently describes itself as a leader in managed print services. 12

Today, Xerox is considerably broader than its traditional copier identity. Its 2025 annual report divides the company into two primary operating segments:

Print and Other

This remains the company’s largest business. It includes:

• office printers;
• multifunction printers;
• production printers;
• digital presses;
• printing supplies;
• managed print services;
• maintenance;
• document-related software and services.

In 2025, this segment generated approximately $6.27 billion in revenue.

IT Solutions

Xerox has also expanded into IT services, including:

• network solutions;
• cybersecurity;
• infrastructure;
• cloud solutions;
• professional services;
• IT support.

This segment generated approximately $761 million in 2025. 13

One of the biggest recent developments in Xerox’s history occurred in 2025. Xerox acquired Lexmark International in a transaction valued at approximately $1.5 billion, including assumed liabilities.

The acquisition was completed on July 1, 2025. 14 Lexmark was already a major player in printing and managed print services. The acquisition therefore significantly strengthened Xerox’s position in the global printing industry.

Following the acquisition, Xerox said the combined organisation would serve more than 200,000 clients in over 170 countries. 15

By 2026, Xerox had begun integrating Xerox and Lexmark product portfolios, sales operations and services.

The company is currently undergoing another major transformation. In March 2026, Xerox’s board appointed Louie Pastor as CEO, replacing Steve Bandrowczak. 16

The company’s strategy increasingly emphasises becoming a broader technology company rather than being perceived simply as a printer manufacturer. In June 2026, Xerox introduced several new A4 colour printers and multifunction printers under a unified Xerox brand following the Lexmark integration. Xerox described its current business as spanning: print + IT infrastructure + intelligent digital services. 17

Xerox generated approximately $7.02 billion in total revenue in 2025, compared with approximately $6.22 billion in 2024. 18

The company’s 2025 annual report reported approximately:

• $7.02 billion total revenue;
• $1.49 billion equipment sales;
• $5.53 billion post-sale revenue;
• approximately 22,900 employees;
• operations serving customers around the world. 19

A notable characteristic of Xerox’s business is that a large proportion of revenue comes from services, maintenance, rentals and other post-sale activities, rather than simply selling hardware. In 2025, post-sale revenue represented about 79% of total revenue. 20

There is an important distinction between Xerox Corporation and Xerox Holdings Corporation.

Xerox Corporation

The operating company has roots going back to 1906.

Xerox Holdings Corporation

A new holding company was incorporated in 2019. On July 31, 2019, Xerox Corporation became a wholly owned subsidiary of Xerox Holdings Corporation, with the publicly traded shares becoming shares of Xerox Holdings. 21

Therefore, when people refer to “Xerox” today, they can be referring informally to the overall group or specifically to Xerox Corporation.

Xerox’s current headquarters are in:

401 Merritt 7
Norwalk, Connecticut 06851
United States

The company has operated globally for decades, serving customers across North America, Europe, Latin America, Asia-Pacific, the Middle East, Africa and India. 22

Xerox’s portfolio can broadly be divided into several categories.

Office printing

• laser printers;
• colour printers;
• multifunction printers;
• copiers;
• scanners.

Production printing

High-volume equipment designed for:

• commercial printers;
• publishing;
• transactional printing;
• direct mail;
• marketing materials.

Digital presses

Equipment for professional print environments where digital workflows replace or complement traditional printing.

Software

Xerox provides software for:

• document workflows;
• print management;
• automation;
• digital document processing;
• workplace productivity.

IT services

Modern Xerox also provides:

• infrastructure services;
• network services;
• cybersecurity;
• cloud solutions;
• IT support.

Xerox’s historical technology portfolio is unusually influential. Some important technologies associated with Xerox research include:

Xerox reports that its innovation history has produced more than 50,000 patents worldwide. 23

An interesting historical change occurred in 2023. Xerox donated the Palo Alto Research Center (PARC) to SRI International, a non-profit research organisation.

PARC had originally been established by Xerox in 1970 and had become an independent company in 2002. 24 The move reflected a strategic decision by Xerox to concentrate on its core businesses: print + digital services + IT solutions.

Thus, although PARC’s historical contributions remain part of Xerox’s technological legacy, it is no longer owned by Xerox.

The Xerox brand has traditionally been associated with several ideas:

• copying;
• office productivity;
• reliability;
• business printing;
• document management;
• technological innovation.

The brand is particularly unusual because its name became synonymous with the product category itself. For several generations, “Xerox machine” was commonly used as a synonym for “photocopier.”

The company has consequently had to evolve its identity as physical documents have become less dominant in modern workplaces.

A useful way of understanding Xerox’s history is as a series of transformations:

• 1906–1930s: Photographic materials company
• 1930s–1950s: Commercialisation of xerography
• 1959–1970s: Photocopier and office-technology giant
• 1970s–1980s: Major computing and research innovator through PARC
• 1990s–2000s: Printing and document-management company
• 2010s: Managed print and business-services company
• 2020s: Digital workplace, print, software and IT-solutions company
• 2025–2026: Post-Lexmark integration and broader technology-platform strategy

25

Xerox’s significance goes far beyond photocopiers. It played a role in three different technological revolutions:

1. The document revolution

Xerography and the Xerox 914 made copying documents fast, inexpensive and convenient.

2. The personal-computing revolution

PARC developed and demonstrated ideas such as graphical interfaces, networked computers and modern desktop interaction.

3. The digital-workplace revolution

Xerox subsequently moved toward managed print, document workflows, software and IT services as businesses transitioned from paper-based processes toward digital ones.

That makes Xerox an unusual company: its historical influence extends from the photocopier to the graphical computer interface and networking technologies that underpin today’s digital workplace.

The simplest description of modern Xerox is:

A global workplace-technology company whose historical core is printing and document management, increasingly combined with digital services and IT solutions.

The company is still deeply involved in printing—the 2025 annual report shows that Print and Other accounted for roughly 89% of segment revenue—but its strategic direction is broader than traditional photocopying. 26

The Lexmark acquisition is particularly important because it reinforces Xerox’s position in printing while giving it greater scale, geographic reach and product breadth.

Xerox is an American technology company founded in 1906 as The Haloid Company. Its transformation began when it commercialised Chester Carlson’s xerography technology, culminating in the hugely successful Xerox 914 plain-paper copier in 1959. The Xerox name subsequently became synonymous with photocopying. During the 1970s, Xerox’s Palo Alto Research Center became an important centre of computer innovation, contributing to technologies and concepts including graphical user interfaces, Ethernet and laser printing. Over subsequent decades, Xerox evolved from a copier manufacturer into a provider of printers, digital presses, managed print services, document software, digital workplace solutions and IT services. After becoming a subsidiary of Xerox Holdings Corporation in 2019, the company continued restructuring its business, acquired Lexmark in 2025, and in 2026 moved further toward a unified technology company spanning print, IT infrastructure and intelligent digital services. 27

1. xrx-20251231
2. Investor FAQs | Xerox Corporation
3. Our History of Innovation and Development – Xerox
4. UNITED STATES
5. The Story of Xerography
6. The Story of Xerography
7. Xerox Announces Donation of Palo Alto Research Center (PARC) to SRI International | Xerox Newsroom
8. Laser Printing Guide and History – Xerox
9. Xerox Celebrates Xerox 9700 Innovation | Xerox Newsroom
10. About Xerox: Document Management
11. xrx-20251231
12. Xerox Completes the Acquisition of Lexmark, Uniting Two Industry Leaders | Xerox Newsroom
13. Xerox Board of Directors Appoints Louie Pastor as Chief Executive Officer | Xerox Newsroom
14. Xerox Introduces A4 Color Printers and MFPs as First Products Under Unified Brand | Xerox Newsroom
15. Investor Overview | Xerox Corporation
16. EDGAR Filing Documents for 0001770450-26-000022
17. 0001770450-26-000009 | 10-K | Xerox Corporation
18. Xerox Expands Unified Market Approach with Broader A3 Portfolio Following Lexmark Acquisition | Xerox Newsroom
19. Xerox Announces New Global Print Go-to-Market Structure to Accelerate Growth and Expand Market Leadership | Xerox Newsroom
20. Xerox Releases Fourth-Quarter and Full-Year Results | Xerox Corporation
21. Xerox Holdings Corporation Plans Webcast to Discuss 2025 Fourth-Quarter and Full-Year Results | Xerox Corporation
22. Xerox Appoints Chuck Butler as Chief Financial Officer | Xerox Newsroom
23. Xerox Announces President & COO Transition | Xerox Newsroom
24. Xerox Unveils Post-Lexmark Acquisition Leadership Team | Xerox Newsroom
25. Xerox celebra 60 anos em Portugal: inovação, talento e futuro – Notícias Xerox
26. EDGAR Filing Documents for 0001770450-25-000018
27. Xerox Statement on Lexmark Acquisition Valuation | Xerox Newsroom