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Xerox Announces Donation of Palo Alto Research Center (PARC) to SRI International
PARC researchers to continue developing pioneering technologies while Xerox focuses on core print, digital and IT services to support clients’ hybrid
About this update from Xerox Holdings Corporation
[{"type":"text","content":"\nPARC researchers to continue developing pioneering technologies while Xerox focuses on core print, digital and IT services to support clients’ hybrid workplace needs.\n\n\n NORWALK, Conn., & PALO ALTO, Calif.--(BUSINESS WIRE)--\nXerox Holdings Corporation (NASDAQ: XRX) announced today the donation of the Palo Alto Research Center (PARC) to SRI International, a nonprofit research institute behind some of the world’s most impactful deep tech advancements. The move enables Xerox to focus entirely on delivering new innovations around its own print, digital and IT service offerings, while allowing the PARC team to join a leading research institution to usher in its next evolution of growth.\n\n\nXerox PARC was founded in 1970 and established as an independent company in 2002. The organization has pioneered numerous technological advancements, including Ethernet, laser printing, the graphical user interface and ubiquitous computing. Xerox's donation of PARC to SRI will open new doors of opportunity for both organizations. With its rich history rooted in scientific excellence, SRI is the optimal partner to usher in the next evolution of growth for PARC.\n\n\n“Our clients are at the heart of everything we do,” said Steve Bandrowczak, chief executive officer at Xerox. “This decision allows both Xerox and PARC to focus on delivering innovations and solutions that align with their own strengths and capabilities. With this arrangement, PARC’s deep tech innovations will be sustained by SRI while allowing Xerox to simplify and optimize its operations and focus solutions on the continued evolution of hybrid work.”\n\n\n“SRI International and PARC can be credited with developing many of the world's most defining innovations through the last decades,” said David Parekh, CEO of SRI International. “We are thrilled to welcome PARC’s world-class talent to our team and launch a new chapter together delivering breakthrough technology to the world, and to continue collaborating with Xerox in the future.”\n\n\n“For more than half a century, PARC and its employees have been at the forefront of some of the world’s most important technological developments,” added Bandrowczak. “Xerox will forever be proud of PARC's role in our history and its continued innovation that solves the world’s most pressing challenges.”\n\n\nAs part of the donation, Xerox will ...