Rank Xerox was formed in 1956 as a joint venture between the Xerox Corporation of USA and the Rank Organisation of UK, to manufacture and market Xerox equipment initially in Europe and later in Africa and Asia. A further joint venture between Rank Xerox and Modi Group in India formed Modi Xerox to manufacture and sell Xerox equipment in the Indian subcontinent.

The initial joint venture was 51% Xerox and 49% Rank Org, but this changed after a few years to a 60/40 split. Later, Xerox bought a further share making the split 80/20, and in the late 1990s, completed the purchase, so Rank Xerox formally became Xerox.

Rank Xerox was the first winner of the European Quality Award in 1992.