Xerox agrees to acquire China’s Lexmark for $1.5b

Xerox Holdings Corporation agreed to acquire the Chinese-owned printer Lexmark International from Ninestar Corporation, PAG Asia Capital, and Shanghai Shouda Investment Centre for a total of $1.5 billion, including assumed liabilities.

This acquisition will enhance Xerox’s core print portfolio and expand its global print and managed print services business to better serve clients in the changing hybrid workplace, as per a statement released on Monday.

The transaction will enhance Xerox’s ability to serve clients in the expanding A4 colour market and broaden its distribution and geographic reach, particularly in the APAC region. The new organisation will cater to over 200,000 clients in 170 countries through 125 manufacturing and distribution facilities across 16 countries.

Together, Lexmark and Xerox hold the top five global market shares in entry, mid, and production print markets, and are significant players in the managed print services market, the statement added.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama