Xerox Holdings Corporation is acquiring Lexmark International, Inc., from Ninestar Corporation, PAG Asia Capital, and Shanghai Shouda Investment Centre in a deal valued at US$1.5 billion ($2.4 billion), inclusive of assumed liabilities.
This acquisition is expected to strengthen the Xerox core print portfolio and build a broader global print and managed print services business better suited to meet the evolving needs of clients in the hybrid workplace.
“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,” Xerox CEO Steve Bandrowczak said.
“By combining our capabilities, we will be better positioned to drive long-term profitable growth and serve our clients, furthering our reinvention.”
The companies said by combining Lexmark’s solutions with Xerox ConnectKey technology and advanced print and digital services, the acquisition will create a “superior offering portfolio”.
In addition, the transaction aims to strengthen the ability of Xerox 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.
“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,” Lexmark president and CEO Allen Waugerman said.
“Lexmark and Xerox are two great companies that together will be even greater.”
“Our shared values and vision are expected to streamline operations and drive efficiencies, taking the best of both companies to make it easier to do business with Xerox,” added Bandrowczak.
The transaction is subject to regulatory approvals, approval of Ninestar’s shareholders, and other customary closing conditions. It is expected to close in the second half of 2025.
Until then, both Xerox and Lexmark will maintain their current operations and operate independently.
Comment below to have your say on this story.
If you have a news story or tip-off, get in touch at editorial@sprinter.com.au.
Sign up to the Sprinter newsletter
