The $375 million sale, which was first revealed on 27 August, completed on 11 October.

Some 1,200 Salmat staff across the BPO operation have shifted to the new parent, including chief executive Nick Debenham, who will continue to oversee the operation.

The $316 million-turnover business now comes under the umbrella of Fuji Xerox Asia Pacific, which handles the document solution businesses under Fujifilm Group.

The BPO operation has been renamed Fuji Xerox Document Management Solutions.

According to Fujifilm: "Fuji Xerox is strongly promoting the business shift from the hardware-centric business offering multifunction devices and printers to the solutions and services business.

"The acquisition of [Salmat Document Management Solutions] provides the company with the biggest capability to offer BPO services in Australia."

The proceeds of the sale will cover Salmat's debt and give it around $100 million of cash, which could go toward growing its share of the "digital services and communications market", said a spokesperson.

[Related: Salmat banks on digital after $100m investment]

According to Salmat: "As reported, net debt at year-ended was $241.6 million. If completion had occurred on 30 June 20-12, a pro-forma balance sheet, after receipt of transaction proceeds of $375 million, would have shown Salmat with a net cash position of $133.4 million."

The company is also undertaking a share buyback scheme, which "represents an initial step in returning value to shareholders", said the spokesperson.

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