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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.