Xerox Buying Global Imaging

It seeks to expand its small business sales.
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Xerox (XRX) - Get Report agreed to acquire Global Imaging (GISX) for $29 a share in cash, or $1.5 billion.

The deal offers shareholders of Tampa, Fla.-based Global Imaging a 49% premium to Friday's closing price. Stamford, Conn.-based Xerox said Global Imaging Systems focuses on small and mid-size businesses through 21 regional core companies in the U.S. that sell and service document management systems such as printers, copiers and multifunction devices; network integration services; and electronic presentation systems.