September 2, 2021

Willkie advised Xerox in the transaction.

On September 2, Willkie client Xerox Holdings Corporation announced the formation of CareAR, a Xerox Company, which consolidates CareAR, Inc., DocuShare and XMPie under a single holding company named CareAR Holdings as well as an equity investment by ServiceNow in CareAR at a $700 million post-money valuation. CareAR will be led by Steve Bandrowczak, Xerox’s President and Chief Operations Officer, as Chairman, and Sam Waicberg, as President. CareAR’s service experience management platform is designed to revolutionize the service experience for enterprises across multiple industries.

CareAR, a Xerox Company, is a Service Experience Management (SXM) leader, making expertise accessible instantly for users through remote, live visual augmented reality (AR) and AI interactions, instructions and insights as part of a seamless digital workflow experience. A leader in office and production print technology, Xerox has expanded into software and services to sustainably power today's workforce, and for more than 100 years, has continually redefined the workplace experience.

The Willkie deal team was led by partner Russell Leaf and included partners Eugene Chang, Jordan Messinger and Russell Pinilis, and associate Amanda Burke.