Xerox (NYSE: XRX) has acquired Customer Value Group Ltd., a software company that specializes in cloud-based accounts receivable.
Customer Value, headquartered in London, also specializes in financial customer relationship management software. The company’s primary product, which manages receivables, is called Value+.
Norwalk, Conn.-based Xerox will offer Value+ as part of its finance and accounting process outsourcing services. Terms of the deal were not disclosed.
In June, the company announced it will buy LearnSomething Inc., which provides e-learning services to the food, drug and health care industries. In February, the company bought Impika, an inkjet printing company.
The deal follows several others for cloud-based services, including Adobe Systems Inc.'s (Nasdaq: ADBE) $600 million purchase of Neolane, and Thoma Bravo LLC's acquisition of Keynote Systems Inc. (Nasdaq: KEYN).