Morrison & Foerster has represented Fujifilm Holdings on its $2.3 billion acquisition of Xerox Corporation’s stake in Fuji Xerox, with King & Spalding advising the seller.

FX was a 75/25 joint venture between Fujifilm and Xerox. The transaction makes FX a wholly owned subsidiary of Fujifilm.

According to Reuters, Xerox has been struggling with falling demand for office printing equipment for years. Fujifilm said it aims to expand the document printer business by 30 percent to 1.3 trillion yen ($11.94 billion) in the year ending in March 2025.

The Morrison & Foerster team was led by partners Gary Smith, Masato Hayakawa, Jeff Schrepfer and Jeff Bell.


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