The companies said Upstream will operate as an autonomous subsidiary of Fuji Xerox Australia and will remain “device-agnostic”.

Fuji Xerox said the acquisition would broaden its managed print service offerings and accelerate growth in the small to medium market.

Nick Kugenthiran (pictured), managing director at Fuji Xerox Australia, said Upstream offered “a good strategic fit which complements our business”.

“We aim to maintain the value of Upstream’s brand and customer base using their current go-to-market model,” he said.

Neil Tilley, executive director at Upstream, said Upstream customers would see “the additional backing and support of a large and proven business partner in Fuji Xerox Australia”.

Upstream Print Solutions formed in 2007 from the merger of Upstream Technology and Print Solutions Australia.

At the time, the new business launched with operating revenue in excess of $90 million and 3,500 business customers under long-term contracts across Australia and New Zealand.

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