Xerox to buy office equipment provider Irish Business Systems for $31 million

Xerox to buy Irish Business Systems for $31M

NORWALK, Conn. — Xerox Corp. said Wednesday it will pay $31 million in cash for the office equipment maker Irish Business Systems Ltd.

The copier and printer company said the deal will give it 11,000 new customers in Ireland, where IBS provides office hardware and manages printing services for small and medium-sized businesses.

Xerox said IBS will distribute a full range of Xerox products as a wholly owned subsidiary based in the city of Cork.

Xerox shares fell 13 cents to $8.89 in afternoon trading.