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00:02Xerox shares rose on Tuesday after the company formed a joint venture with TPG structured
00:07as an intellectual property holding and licensing entity, according to Benzinga.
00:12The venture will manage, protect, and monetize key Xerox IP assets.
00:16It raised $450 million in senior secured term loans and preferred equity led by TPG credit.
00:23Xerox said the proceeds will bolster liquidity,
00:25accelerate the Lexmark integration, and address its capital structure,
00:30including potential debt repayment.
00:32Xerox retains full use of its name, trademark, and transferred IP under a long-term license.
00:38COO Louis Pasteur said the financing strengthens Xerox's balance sheet,
00:42completes prior liquidity efforts, and positions the company to advance its long-term strategy.
00:47The company expects more than $200 million in operating income growth in 2026.
00:52For all things money, visit Benzinga.com.
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