Xerox announces $1.5 billion acquisition of Lexmark. With this deal, Xerox doubles its size.
American printer manufacturer Xerox announces the acquisition of Lexmark for $1.5 billion. The company sees in Lexmark a strategic partner, and aims to increase its share within the color printing market. Together, the companies will serve some 200,000 customers in 170 different countries. Xerox is expected to carry out the financing with cash and loans.
Size doubled
Lexmark came into the hands of a group of Chinese buyers in 2016. Afterwards, the company faced some setbacks, such as the ban on importing goods into the US. The two printing companies are no strangers to each other, as Lexmark has been a supplier to Xerox for years. Now Xerox is taking over the company, putting it back in American hands.
In recent years, Lexmark has built a strong position in the color printing market, more specifically in the field of A4 printers. With Lexmark, Xerox wants to strengthen its position in the market. Moreover, this acquisition paves the way for further expansion in Asia. The two organizations together will have more than 200,000 customers in 170 countries.
“Our acquisition of Lexmark brings together two industry-leading companies with shared values, complementary strengths and a deep commitment to advancing the printing industry to create one stronger organization,” said Xerox CEO Steve Bandrowczak.
Xerox’s acquisition of Lexmark is worth $1.5 billion. The company will finance it on the basis of cash and loans.