Xerox has agreed to acquire Global Imaging Systems for $1.46 billion, the largest of three acquisitions it made in the last year.

Xerox has agreed to acquire Global Imaging Systems for $1.46 billion, the largest of three acquisitions it made in the last year. The business equipment company will pay $29 a share for the office-imaging products and services provider. The price is a 33% premium to Global's closing price of $19.50 Friday on the Nasdaq Stock Market. Xerox sees the acquisition adding to full-year earnings.

Global will operate as a unit of Xerox when the acquisition closes. Xerox said Global's 4,500 employees will continue to work for the company. Xerox says it stands to benefit from the merger through increased equipment sales and a strong annuity stream from the service and supplies to support these products.

This is Xerox's third acquisition in the last 52 weeks. In July, the company acquired Amici LLC, a provider of electronic-discovery services that support litigation and regulatory compliance, for $175 million. In November, Xerox bought XMPie, which makes software for multimedia marketing campaigns, for $54 million.

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