Xerox Corporation (NYSE:XRX) is seeking acquisitions. Bill Osbourn, Executive Vice President and Chief Financial Officer of Xerox, said, "Our acquisitions will be in areas that we are clearly experienced with that are close to our knitting, areas that we understand. And one of those areas historically has been in the GIS, or global imaging services, area where we buy multi-branded resellers and essentially convert them over to more of a mono-branded reseller, being Xerox. And historically, we have had very good returns in that. We've paid a multiple in the range of 1 times revenue, and we look to the extent that they are the right opportunities and doing those type of acquisitions in 2017 and beyond not only in the US, but internationally.