Xerox Acquires Canada-based CPAS Systems Inc.

NORWALK, CT, Aug. 13, 2013 /CNW/ - Xerox today announced its acquisition of 
CPAS Systems Inc., a Toronto-based company providing pension administration 
software to the private and public sectors. 
CPAS software simplifies administration and record keeping for defined 
benefit, defined contribution and hybrid retirement savings plans as well as 
health, welfare and group life insurance premiums. The company's 
open-architecture platform features mobile and Web-enabled technology and 
manages pensions for more than 2 million people in the U.S., Canada, Europe, 
Asia, Africa and the Caribbean. 
Xerox will offer CPAS both as a standalone software solution and as part of 
its human resources outsourcing services offering, with a special emphasis on 
the emerging market for government pension administration outsourcing. 
"Governments are under pressure to reduce costs while enhancing services. 
Pension administration is an area where innovation can help our customers 
recognize significant operational improvements while delivering cost savings," 
said Nancy Collins, group president, Xerox State Enterprise Solutions. "CPAS 
has a robust, highly flexible solution that strengthens Xerox's suite of 
offerings for modernizing government." 
CPAS originally developed its software to support the complex Canadian pension 
system, which includes diverse pension and tax legislative requirements for 10 
provinces and the federal government. Today the company's worldwide clients 
include financial services companies; local, state and national governments; 
individual and multi-employer plan sponsors; and third-party administrators 
that manage pensions in multiple languages, jurisdictions and currencies. 
"Pension administration is a complex and evolving sector, and CPAS has a 
strong platform that supports the comprehensive requirements of commercial, 
government, and institutional plan managers," said CPAS Chairman and CEO David 
Rive. "By joining Xerox, CPAS and our clients benefit from this respected 
business, its powerful brand, and its international presence." 
The CPAS management team and its employees will remain with the company, with 
its operations continuing in the Toronto office. 
CPAS is among the first pension software companies to be registered to the ISO 
9001:2008 quality standard, a certification it has maintained for 12 years. 
About Xerox
Since the invention of Xerography 75 years ago, the people of Xerox (NYSE: 
XRX) have helped businesses simplify the way work gets done. Today, we are the 
global leader in business process and document management, helping 
organizations of any size be more efficient so they can focus on their real 
business. Headquartered in Norwalk, Conn., more than 140,000 Xerox employees 
serve clients in 160 countries, providing business services, printing 
equipment and software for commercial and government organizations. Learn more 
About Xerox Canada Ltd.
Headquartered in Toronto, Ontario, with regional offices nationwide, Xerox 
Canada provides extensive, leading-edge document technology, services, 
software and genuine Xerox supplies for graphic communication and office 
printing environments of any size, in industries such as financial services, 
retail, telecommunications, healthcare, education and transportation.Xerox 
Canada offers and delivers an exclusive portfolio of leading managed print 
services (MPS), communication and marketing services (CMS) and specialized 
business process outsourcing (BPO) - such as managing paper-based work 
processes - and information technology services. LaserNetworks, a leading 
managed print services provider, is a wholly-owned subsidiary of Xerox Canada 
Ltd. For more information visit 
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SOURCE  Xerox Canada 
Media Contacts: Sonia Hakimi, Xerox Canada, 
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CO: Xerox Canada
ST: Connecticut
-0- Aug/13/2013 16:00 GMT
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