Another U.S. corporate icon has decided that breaking up is the thing to do.

Xerox, whose name has long been synonymous with office copiers, has agreed to spin off its services business to its shareholders by the end of the year, separating it from the legacy hardware side, according to a person briefed on the decision.

A large part of the spinoff will incorporate Affiliated Computer Services, the business-outsourcing company that Xerox bought for $6.4 billion in 2010, said the person, who asked for anonymity, before the plan was announced.

The remaining company would be focused on office supply products like copiers, scanners and fax machines, the person said.

The plan is expected to be announced when Xerox reports fourth-quarter financial results today.

Xerox, which was founded in Rochester, New York, in 1906, will be joining other big U.S. corporations that have split apart or pared back in recent years, some driven by activist hedge funds seeking to increase returns on their shares.

Alcoa announced in September it would split in two, separating its commodities and metal products businesses. Hewlett-Packard decided to split in 2014. More recently, the chemical giants Dow Chemical and DuPont agreed to merge with the intent to split into three companies soon afterward.