Xerox separating into 2 independent publicly traded companies

NEW YORK (AP) — Xerox is separating into two independent publicly traded companies. The planned breakup follows pressure from activist investor Carl Icahn.

Shares of the Norwalk, Connecticut-based company edged up in today in pre-market trading.

Xerox announced in October that it planned to conduct a review of its operations in the hopes of boosting shareholder value.

The separation calls for a document technology company and a business process outsourcing company. The document technology company will handle document management and document outsourcing, while the business process outsourcing business will help companies with automating and simplifying business processes.

The names of the two companies and their leadership teams have yet to be determined.