ROCHESTER, N.Y. (WROC) — Xerox has announced a deal to acquire IT products and services company ITsavvy. According to Xerox, the $400 million acquisition includes $180 million cash and $220 million in secured promissory notes. It will close sometime in the fourth quarter of 2024 depending on approvals. "As part of our Reinvention we have created a greater organizational focus on our emerging IT Services capabilities to diversify our revenue streams in the geographies we serve," Xerox President and COO John Bruno said. ITsavvy is based in Illinois. According to Xerox, the company offers "a comprehensive suite of lifecycle, deployment, and managed IT services to assist with clients’ most critical networking, cloud migration and workplace productivity needs."