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MarketScreener Homepage  >  Equities  >  Nyse  >  Xerox Holdings Corporation    XRX

XEROX HOLDINGS CORPORATION

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Xerox : DARPA Awards PARC Contract to Expand Ocean Knowledge; Next Phase in Ocean of Things Project Deploys Sensors to Collect Data

10/23/2020 | 09:22am EST

PALO ALTO, Calif. - PARC, A Xerox Company, announced today it has been awarded a contract by the Defense Advanced Research Projects Agency (DARPA) for the next development phase in the Ocean of Things, a project to expand what scientists know about the seas.

Initially announced by DARPA in 2017, the Ocean of Things project is deploying small, low-cost drifters in the Southern California Bight and Gulf of Mexico to collect data on the environment and human impact. This includes sea surface temperature, sea state, surface activities, and even information on marine life moving through the area.

'Oceans cover more than 70 percent of the earth's surface, but we know very little about them,' said Ersin Uzun, vice president and general manager of the Internet of Things team at Xerox. 'The drifters gather data that we could never track before, enabling persistent maritime situational awareness.'

Each solar-powered drifter has approximately 20 onboard sensors, including a camera, GPS, microphone, hydrophone, and accelerometer. The different sensors can provide data for a broad array of areas including ocean pollution, aquafarming and transportation routes.

PARC leveraged its more than fifty years of experience developing industry-leading technologies to design a drifter that best fit the DARPA requirements for the program. Among other things, the float needed to be made of environmentally safe materials, be able to survive in harsh maritime conditions for a year or more before safely sinking itself, and use advanced analytic techniques to process and share the data gathered.

PARC built 1,500 drifters for the first phase of the project and will deliver up to 10,000 that are more compact and cost-effective for the next phase. Data gained in this round will help further optimize the final design, at which point DARPA expects to deploy large volumes of these drifters to provide continuous information and a better understanding of oceans that is missing today.

About Xerox

Xerox Holdings Corporation (NYSE: XRX) makes every day work better. We are a workplace technology company building and integrating software and hardware for enterprises large and small. As customers seek to manage information across digital and physical platforms, Xerox delivers a seamless, secure and sustainable experience. Whether inventing the copier, Ethernet, the laser printer or more, Xerox has long defined the modern work experience. Learn how that innovation continues at xerox.com.

Media Contacts

Bill D'Elia

Xerox

+1-919-830-8509

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2020 6 993 M - -
Net income 2020 164 M - -
Net Debt 2020 1 881 M - -
P/E ratio 2020 26,4x
Yield 2020 4,51%
Capitalization 4 462 M 4 462 M -
EV / Sales 2020 0,91x
EV / Sales 2021 0,88x
Nbr of Employees 25 500
Free-Float 91,1%
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Number of Analysts 7
Average target price 19,40 $
Last Close Price 22,49 $
Spread / Highest target 6,71%
Spread / Average Target -13,7%
Spread / Lowest Target -42,2%
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John Visentin Vice Chairman & Chief Executive Officer
Steven John Bandrowczak President & Chief Operating Officer
Keith Cozza Chairman
Xavier Heiss Chief Financial Officer & Executive Vice President
Naresh K. Shanker Chief Technology Officer & Senior Vice President
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