A deal worth $1.5 million has been agreed between Xerox and the owners of Lexmark International over its acquisition as the printing company looks to bolster its portfolio.
Lexmark is a provider of imaging solutions and technologies whose current ownership is split between three businesses – Ninestar Corporation, PAG Asia Capital, and Shanghai Shouda Investment Centre.
Combining its solutions with Xerox’s ConnectKey technology and advanced print and digital services, it is hoped the buyout will create a greater portfolio that builds on Xerox’s commitment to increasing value for clients and partners.
The transaction will also strengthen Xerox’s ability to serve clients in the large, growing A4 colour market and diversify its distribution and geographic presence, including the APAC region.
The new organisation will serve more than 200,000 clients in 170 countries with 125 manufacturing and distribution facilities in 16 countries.
Steve Bandrowczak, chief executive officer at Xerox said: “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 organisation.
“By combining our capabilities, we will be better positioned to drive long-term profitable growth and serve our clients, furthering our Reinvention.”
Allen Waugerman, Lexmark president and chief executive officer said: “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.”
