Xerox to acquire Lexmark for $1.5 billion
Xerox Holdings Corporation has agreed to acquire Lexmark International, from Ninestar Corporation, PAG Asia Capital, and Shanghai Shouda Investment Centre in a deal valued at USD 1.5 billion, inclusive of assumed liabilities.
This acquisition aims to strengthen the Xerox core print portfolio and build a broader global print and managed print services business. Lexmark is a provider of imaging solutions and technologies, including a line of printers and multifunction printers.
“Our acquisition of Lexmark will bring together two industry-leading companies with shared values, complementary strengths, and a deep commitment to advancing the print industry to create one stronger organization,” said Steve Bandrowczak, chief executive officer at Xerox. “By combining our capabilities, we will be better positioned to drive long-term profitable growth and serve our clients, furthering our Reinvention.”
Xerox and Lexmark have complementary sets of operations, offering strengths and end-market exposures. Combined, the companies form a vertically integrated manufacturer, distributor and provider of print equipment and Managed Print Services, covering all geographies and client types with a well-rounded portfolio of print and print services offerings.
The new organisation will serve more than 200,000 clients in 170 countries with 125 manufacturing and distribution facilities in 16 countries.
“Lexmark has a proud history of serving our customers with world-class technology, solutions and services, and we are excited to join Xerox and expand our reach with shared talent and a stronger portfolio of offerings,” said Allen Waugerman, Lexmark president and chief executive officer.
