Norwalk-based Xerox Holdings Corp. has entered into a joint venture with Texas private equity firm TPG to establish a new entity focused on intellectual property management and licensing. The venture has secured $450 million in funding through a transaction led by TPG Credit, TPG’s credit investment arm. The financing package includes a mix of senior […]
Norwalk-based Xerox Holdings Corp. has entered into a joint venture with Texas private equity firm TPG to establish a new entity focused on intellectual property management and licensing.
The venture has secured $450 million in funding through a transaction led by TPG Credit, TPG’s credit investment arm. The financing package includes a mix of senior secured term loans and preferred equity issued at the joint venture level, with participation from other investors.
Xerox said it has received proceeds from the financing, which are intended to bolster corporate liquidity and support broader business priorities. The company indicated the capital could also be used to address elements of its balance sheet, including potential debt reduction initiatives.
In connection with the deal, certain Xerox subsidiaries transferred designated intellectual property assets into the joint venture in exchange for equity stakes. Xerox also finalized a long-term services and licensing arrangement with the new entity, ensuring continued global rights to its brand, trademarks and related IP.
The newly formed venture is designed to oversee, safeguard and derive value from selected Xerox intellectual property assets, the company said.
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