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Fujifilm to take over Xerox

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Japanese technology firm Fujifilm plans to take a majority stake in its Fuji Xerox subsidiary and joint partnership.

Formed in 1962, Fuji Xerox was the longest running joint venture between U.S. and Japanese companies.

With the move, Fujifilm will cut 10,000 jobs by 2020 for the new company called New Fuji Xerox.

Read more from BBC News.

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