The move comes as part of Xerox's exit of the hardware business to focus on services
TORONTO—Xerox Corp. has purchased CPAS Systems Inc., a Toronto-based company that makes pension administration software.
CPAS software will be offered both as a standalone solution and as part of human resources outsourcing services, Xerox said Tuesday.
Financial terms weren’t immediately available.
Xerox said the CPAS management team and employees are expected to remain at the Toronto office.
CPAS software is used for the administration and record keeping for defined benefit, defined contribution and hybrid retirement savings plans as well as health, welfare and group life insurance premiums.