Xerox Corp. agreed to the acquisition of Affiliated Computer Services Inc. for $6.4 billion marking its biggest purchase to date.
Xerox is shifting to computer services and hopes this buyout will help triple sales from services to about $10 billion, according to a statement.
The deal is about 34 percent more than Affiliated Computer Services' price on Friday. Xerox will pay 4.935 of Xerox shares and $18.60 in cash for each share of ACS totaling $63.11 per share based on Friday's closing price, according to the companies on Monday.
As a difference from the copier company, ACS competes in the market of data center management.