Formerly | Modi Xerox |
---|---|
Company type | Subsidiary |
Headquarters | , India |
Area served | India |
Parent | Xerox Corporation |
Xerox India, based in Gurgaon, India, [1] is the Indian subsidiary of Xerox Corporation, an American printer, photocopier, document supplies, technology & services company.
Originally Modi Xerox, the business was derived from a joint venture formed between Dr Bhupendra Kumar Modi aka Dr. M through ModiCorp (now Spice Group) and Rank Xerox in September 1983. The share structure was 40% ModiCorp, 40% Rank Xerox and 20% private shareholders. It built upon an earlier co-operation, Indian Xerographic Systems, formed in 1982. Other partnerships included Modi Xerox Software Systems, created in 1995 and Modi Xerox Financial Services.
Rank Xerox was absorbed into Xerox Corporation in 1997 and Xerox obtained a majority stake in Modi Xerox in 1999. After obtaining majority ownership of Modi Xerox, it was renamed Xerox ModiCorp and the software and financial services operations were incorporated into the main business.
In July 2002, during a troubled period for Xerox Corporation after allegations of accounting irregularities by the U.S. Securities and Exchange Commission, [2] Xerox Corporation disclosed that Xerox ModiCorp had made "improper payments" to government officials [3] and fictitious firms. [4] A government probe later found Xerox Modi Corp had violated certain corruption laws and in May 2005 it was reported that action would be taken against the company. At this time Xerox ModiCorp announced its name change to Xerox India. [5] After all these activities Modi Xerox closed its factory in Rampur. According to the Economic Times, [6] Xerox Corporation owned 86% of Xerox India in March 2005 and is seeking 100% control. The remaining shares are held by Modi Rubber and private stakeholders.
Xerox Holdings Corporation is an American corporation that sells print and digital document products and services in more than 160 countries. Xerox is headquartered in Norwalk, Connecticut, though it is incorporated in New York with its largest population of employees based around Rochester, New York, the area in which the company was founded. The company purchased Affiliated Computer Services for $6.4 billion in early 2010. As a large developed company, it is consistently placed in the list of Fortune 500 companies.
Rank Xerox Limited was formed in 1956 as a joint venture between the Xerox Corporation of United States and The Rank Organisation of the United Kingdom, to manufacture and market Xerox equipment initially in Europe and later in Africa and Asia. A further joint venture between Rank Xerox and Modi Group in India formed Modi Xerox to manufacture and sell Xerox equipment in the Indian subcontinent.
Tata Consultancy Services Limited (TCS) is an Indian multinational information technology (IT) services and consulting company headquartered in Mumbai. It is a part of the Tata Group and operates in 150 locations across 46 countries. In September 2023, it was reported that TCS had over 616,000 employees worldwide. TCS is the second-largest Indian company by market capitalization, the most valuable IT service brands worldwide, and the top Big Tech (India) company. As of June 2023, it was the world's second-largest user of U.S. H-1B visas.
Reliance Industries Limited is an Indian multinational conglomerate headquartered in Mumbai. Its businesses include energy, petrochemicals, natural gas, retail, entertainment, telecommunications, mass media, and textiles. Reliance is the largest public company in India by market capitalisation and revenue, and the 100th largest company worldwide. It is India's largest private tax payer and largest exporter, accounting for 7% of India's total merchandise exports. The company has relatively little free cash flow and high corporate debt.
Cognizant is an American multinational information technology services and consulting company. It is headquartered in Teaneck, New Jersey, U.S. Cognizant is part of the NASDAQ-100 and trades under CTSH. It was founded as an in-house technology unit of Dun & Bradstreet in 1994, and started serving external clients in 1996.
ICICI Bank Limited is an Indian multinational bank and financial services company headquartered in Mumbai with registered office in Vadodara. It offers a wide range of banking and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of investment banking, life, non-life insurance, venture capital and asset management.
Oracle Financial Services Software Limited (OFSS) is a subsidiary of Oracle Corporation. It is involved in financial and insurance technology.
Affiliated Computer Services Inc. (ACS) was a company that provided information technology services as well as business process outsourcing solutions to businesses, government agencies, and non-profit organizations. ACS was based in Dallas, Texas. ACS was ranked at number 341 on the 2010 Fortune 500 list. Founded in 1988, by Darwin Deason, ACS operated in nearly 100 countries, generating over $6 billion annually. As of September 2009, ACS employed approximately 74,000 people.
The IDBI Bank Limited is a development finance institution under the ownership of Life Insurance Corporation of India and Government of India. It was established in 1964 as Industrial Development Bank of India, a development finance institution, which provided financial services to industrial sector. In 2005, the institution was merged with its commercial division, IDBI Bank, forming the present-day banking entity and was categorised as "other development finance institution" category. Later in March 2019, Government of India asked Life Insurance Corporation to infuse capital in the bank due to high NPA and capital adequacy issues and also asked LIC to manage the bank to meet the regulatory norms. IDBI was put under Prompt corrective action of the RBI and on 10 March 2021 IDBI came out of the PCA. At present direct and indirect shareholding of Government of India in IDBI Bank is approximately 95%, which Government of India (GoI) vide its communication F.No. 8/2/2019-BO-II dated December 17, 2019, has clarified and directed all Central/State Government departments to consider IDBI Bank for allocation of Government Business. Many national institutes find their roots in IDBI like SIDBI, EXIM, National Stock Exchange of India, SEBI, National Securities Depository Limited.
Kotak Mahindra Bank Limited is an Indian banking and financial services company headquartered in Mumbai. It offers banking products and financial services for corporate and retail customers in the areas of personal finance, investment banking, life insurance, and wealth management. It is India's third largest private sector bank by market capitalisation after HDFC Bank and ICICI Bank. As of 31 March 2023, the bank has a national footprint of 1,780 branches and 2,964 ATMs.
Verint Systems is a Melville, New York–based analytics company which was founded in 2002. The company sells software and hardware products for customer engagement management and business intelligence. Their products are designed to assist clients in data analysis, specifically large data sets.
Hindustan Petroleum Corporation Limited (HPCL) is an Indian public sector undertaking in petroleum and natural gas industry, headquartered in Mumbai, and a subsidiary of the Oil and Natural Gas Corporation (ONGC), which is owned by the Ministry of Petroleum and Natural Gas, Government of India.
Fidelity National Information Services, Inc. (FIS) is an American multinational corporation which offers a wide range of financial products and services. FIS is most known for its development of Financial Technology, or FinTech, and as of Q2 2020 it offers its solutions in three primary segments: Merchant Solutions, Banking Solutions, and Capital Market Solutions. Annually, FIS facilitates the movement of roughly $9 trillion through the processing of approximately 75 billion transactions in service to more than 20,000 clients around the globe.
Mphasis Limited is an Indian multinational information technology services and consulting company based in Bangalore. The company provides infrastructure technology and applications outsourcing services, as well as architecture guidance, application development and integration, and application management services. It serves financial services, telecom, logistics, and technology industries. Mphasis was ranked #7 in India IT companies and overall #189 by Fortune India 500 in 2019. In April 2016, Hewlett Packard Enterprise sold the majority of its stake in Mphasis to Blackstone Group LP for around US$1 billion.
Lalit Modi is an Indian businessman and former cricket administrator and a financial fraud fugitive. He was the founder, first chairman and League Commissioner of the Indian Premier League (IPL), and ran the tournament for three years until 2010. He also served as the Chairman of the Champions League from 2008 till 2010 and was Vice President of the BCCI from 2005 till 2010. He has also served as the President of the Rajasthan Cricket Association from 2005 till 2009 and then again from 2014 till 2015, and as the vice president of the Punjab Cricket Association from 2004 till 2012.
Moody's, previously known as Moody's Analytics, is a subsidiary of Moody's Corporation established in 2007 to focus on non-rating activities, separate from Moody's Investors Service. It provides economic research regarding risk, performance and financial modeling, as well as consulting, training and software services. Moody's is composed of divisions such as Moody's KMV, Moody's Economy.com, Moody's Wall Street Analytics, the Institute of Risk Standards and Qualifications, and Canadian Securities Institute Global Education Inc.
Bhupendra Kumar Modi, known informally as Dr. M, is an Indian-born Singaporean businessman, social entrepreneur, and philanthropist. He is the founder-chairman of Smart Group of companies, the founder of the Global Citizen Forum and the global chairman of the Foreign Investors India Forum. He is also the Honorary President of the World Federation of United Nations Associations.
JM Financial (JMFL) is an Indian financial services group headquartered in Mumbai and has branches across India. It also has overseas branches in Ebene, Singapore, New Jersey and Dubai although almost all the group's business are domestic operations in India.