Xerox (NYSE:XRX) has reached over the border for its latest big-asset purchase. The company announced it has acquired CPAS Systems, a privately held firm based in Toronto that specializes in pension administration software. The terms of the deal were not disclosed.

In the press release announcing the news, the acquirer quoted Nancy Collins, group president of its state enterprise solutions division, as saying that "CPAS has a robust, highly flexible solution that strengthens Xerox's suite of offerings for modernizing government."

Both CPAS' management team and its employees will remain with the firm, said Xerox. CPAS will continue to operate from Toronto.

Fool contributor Eric Volkman has no position in Xerox, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.