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Xerox has purchased US printer manufacturer Lexmark to strengthen its core print portfolio as part of significant restructuring strategies which began in 2024
Xerox has announced that it has agreed to acquire manufacturer of laser printers and imaging products, Lexmark.
Xerox will purchase Lexmark from Ninestar Corporation, PAG Asia Capital, and Shanghai Shouda Investment Centre in a deal valued at $1.5bn (£1.21bn), inclusive of assumed liabilities.
This acquisition has been made to strengthen Xerox’s core print portfolio. US-based Lexmark is already a partner and supplier of printers to Xerox including a range of multifunction printers.
The new organisation will serve more than 200,000 clients in 170 countries with 125 manufacturing and distribution facilities in 16 countries.
Combined, Lexmark and Xerox have a top five global share in each of the entry, mid, and production print markets.
Combined, the companies will aim to form a vertically integrated manufacturer, distributor, and provider of print equipment and managed print services (MPS).
In a statement about the purchase, Xerox says that it wants to “build a broader global print and MPS business better suited to meet the evolving needs of clients in the hybrid workplace.”
The transaction will also strengthen Xerox’s ability to serve clients in the A4 colour printing market and diversify its geographic presence, particularly in the Asia-Pacific (APAC) region.
Steve Bandrowczak, chief executive officer at Xerox, says: “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 adds: “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 and Xerox are two great companies that together will be even greater.”
The Xerox Board of Directors has unanimously approved the transaction, though the transaction is subject to regulatory approvals, approval of Ninestar’s shareholders, and other customary closing conditions.
The deal is expected to close in the second half of 2025. Until that time, both Xerox and Lexmark will maintain their current operations and operate independently.
The acquisition comes as part of significant restructuring plan at Xerox which began in the first half of 2024, including reducing its workforce and implementing a new organisational structure and operating model.
The company has also released multiple new products as part of the plan, including its new Xerox PrimeLink series.
The new Xerox PrimeLink C9265/C9275/C9281 printers, released with the tagline “Everything is Possible”, include a new toner formulation along with a redesigned LED system for ten-bit processing.
According to Xerox the devices can also achieve 2400 x 2400 imaging along with smooth colour transitions and speeds of up to 65 to 81 pages per minute.
