Xerox to Create Independent Research Center from Famed Palo Alto Laboratory; Will Maintain Access to Research
PALO ALTO, Calif. — Xerox Corporation today announced it will create an
independent company from its Palo Alto Research Center (PARC). This initiative
sets the stage for strategic partners to share in the benefits of PARC's
renowned innovation while ensuring that Xerox maintains access to the center's
research and technology.
Xerox announced last year that it would seek strategic, non-competitive partners
for PARC, one of several elements in Xerox's turnaround plan to focus on
core growth areas. The company confirmed today that active discussions are under
way with key potential investors.
The new company is expected to begin operations after Jan. 1 as a wholly owned
Xerox subsidiary. In this structure, PARC will continue to generate a stream
of inventions, creating opportunities for Xerox and future investors to commercialize
PARC-developed technology.
It is expected that PARC employees will transfer after the first of the year
from Xerox to the new company.
This article originally appeared in the January 2002 issue of Recharger.