Traded as NYSE: CNDT Area served Worldwide Founded 3 January 2017 | Number of locations 40 countries (2017) Revenue US$ 6.6 billion (2017) Type of business Public | |
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Industry Business process services Stock price CNDT (NYSE) US$ 15.93 -0.05 (-0.31%)3 Mar, 4:00 PM GMT-5 - Disclaimer Headquarters Norwalk, Connecticut, United States CEO Ashok Vemuri (1 Jan 2017–) Profiles | ||
Conduent Inc. is a business process services company originally created as a divestiture from Xerox. It has 93,000 employees in more than 40 countries.
History
On 30 June 2016, Xerox announced that it would be spinning off its Xerox Business Services division into a wholly separate corporation, for which the name was yet to be determined. The business scope of the new company was generally understood to be essentially identical to that of former business services company Affiliated Computer Services (ACS), which Xerox had acquired six years earlier in 2010.
On 6 October 2016, having previously announced its intent to separate into two separate companies, Xerox announced the identity of the new business services company as Conduent. It described the company's "coined name" as "inspired by the company's expertise in managing transactional relationships between their clients and their constituents". On its corporate blog, Conduent posted an article by chief marketing officer John Kennedy, who described the name as "derived with inspiration from several places". Kennedy wrote that when trying to summarize what the new company does, "words like conduit, confluence and constituent come to mind." He wrote that the company considered nearly 6,000 possible names before choosing Conduent, which he described as "a name that seemed perfect for our new BPO Company."
On 3 January 2017, Conduent formally came into existence following its separation from Xerox.