Xerox has purchased Toronto-based CPAS Systems, which provides pension administration software to the private and public sectors.
Financial terms of the deal were not disclosed.
“Governments are under pressure to reduce costs while enhancing services,” says Nancy Collins, Xerox’s group president of state enterprise solutions. “Pension administration is an area where innovation can help our customers recognize significant operational improvements while delivering cost savings.”
Xerox will offer CPAS both as a stand-alone software solution and as part of its HR outsourcing services offering, with a special emphasis on the emerging market for government pension administration outsourcing.
The CPAS management team and its employees will remain with the company, with its operations continuing in the Toronto office.