Xerox Holdings Corporation has announced it has agreed to acquire Lexington’s Lexmark International, Inc. in a deal valued at $1.5 billion.
The acquisition, which was unanimously approved by the Xerox Board of Directors, is projected to strengthen Xerox’s print portfolio and build a broader global print and managed print services business that is better suited to meet the evolving needs of clients in the hybrid workplace.
Offering More To Clients
Lexmark, which has been a valuable partner and supplier to Xerox, is a leading provider of innovative imaging solutions and technologies including a best-in-class line of printers and multifunction printers.
Company leaders believe combining Lexmark’s solutions with Xerox® ConnectKey® technology and advanced Print and Digital Services will create a stronger portfolio and underscores Xerox commitment to increasing value for clients and partners.
“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 organization,” said Steve Bandrowczak, Chief Executive Officer at Xerox. “By combining our capabilities, we will be better positioned to drive long-term profitable growth and serve our clients, furthering our Reinvention.”
The transaction is also expected to strengthen the ability of Xerox to serve clients in the large, growing A4 color market and diversify its distribution and geographic presence, including the APAC region.
A Stronger Portfolio
The new organization 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 and are key players in the large, stable managed print services market.
“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,” said Allen Waugerman, Lexmark President and Chief Executive Officer. “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.
For more information about the acquisition, visit www.news.xerox.com.
