UPDATE: Xerox creates new CareAR software platform
(Updating at company's request to clarify that Sam Waicberg is founder of CareAR Inc.) Xerox Holdings Corp. said Thursday it has created a new CareAR Service Experience Management platform to house its CareAr Inc., DocuShare and XMPie under a single holding company called CareAR Holdings. The new platform has a $700 million post-money valuation following a $10 million equity investment from ServiceNow, a digital workflow company, Xerox said in a statement. The move "will support service workforces with the visual tools and access to data that are needed to consistently deliver high quality service experiences for service employees and end-customers, all while lowering the operating costs and greenhouse gas emissions of service providers," said the statement. The holding company will be led by Xerox President and Chief Operations Officer Steve Bandrowczak, who will act at chairman, and Sam Waicberg, original founder of CareAR Inc., who will be president. Xerox shares were not active premarket, but have fallen 3.5% in the year to date, while the S&P 500 [S: spx] has gained 20%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.