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Technology / AI and automation

XEROX SELLS TALEGEN INSURANCE ARM TO ACE LTD FOR $333M

Xerox Corp has announced an agreement to sell the insurance company Westchester Specialty Group Inc, a unit of Xerox’s Talegen Holdings Inc, to Bermuda-based insurance specialist ACE Ltd for $333m in cash. The move almost completes Xerox’s strategy of re-focusing on its core document processing business. The move away from financial services was started in 1993, and now only one insurance unit remains to be sold.

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CBR Staff Writer

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