Xerox is planning a number of acquisitions in order to boost its business services repertoire. The acquisitions are designed to boost revenue and profit margins and to gain a new reputation as an innovative forward moving business.

Ursula Burns, CEO stated Xerox has set aside between $350 million and $400 million for purchasing companies, particularly those with specialty analytic capabilities or healthcare technologies.

However, Burns ruled out any major purchases, such as its acquisition of Affiliated Computer Services Inc (ACS) for $5.5 billion in 2009. The purchase moved Xerox into the outsourcing business in what was the company's biggest deal in its 106-year history.

Xerox sources more than half its revenue from its services division which includes processing credit card applications, managing toll systems and unemployment benefit provisions for public sectors.

"We have to grow this services business without doubt around it with continuous revenue growth and predictable margins...so that people see yeah they are really in this business." Burns said.