Xerox Corporation (NYSE:XRX) signed a definitive agreement to acquire ISG Holdings, Inc. from Beecken Petty O'Keefe & Company Fund III, L.P. managed by Beecken Petty O'Keefe & Company and other shareholders for approximately $230 million on May 6, 2014. Under the transaction, Xerox will add StrataCare and Bunch CareSolutions to its portfolio. Once the acquisition is complete, the brands will go to market as StrataCare, A Xerox Company and Bunch CareSolutions, A Xerox Company. The operations of StrataCare and Bunch CareSolutions and its 700 employees will continue to be led by Paul Glover, Chairman and Chief Executive Officer who will report to Connie Harvey, Chief Operating Officer of Xerox's commercial healthcare and insurance business. The deal is expected to close within the quarter ending June 30, 2014. On May 30, 2014, Federal Trade Commission approved the transaction.

Jefferies acted as financial advisor to ISG Holdings. Brian F. Richards, Christopher D. Sheaffer, Ziemowit T. Smulkowski, Colby Gifford and Amy Reilly of Paul Hastings LLP acted as legal advisors to ISG Holdings. Diego E. Gómez-Cornejo of K&L Gates LLP acted as legal advisor for Xerox

Xerox Corporation (NYSE:XRX) completed the acquisition of ISG Holdings, Inc. from Beecken Petty O'Keefe & Company Fund III, L.P. managed by Beecken Petty O'Keefe & Company and other shareholders in May 2014.