Xerox has agreed to acquire cloud-enabled imaging and IoT technologies company Lexmark International in a deal valued at $1.5 billion (£1.2 billion). This acquisition is intended to strengthen the Xerox core print portfolio and build a broader global print and managed print services business. The deal is expected to close in the second half of 2025.
Xerox CEO Steve Bandrowczak says the acquisition of Lexmark, which is owned by Ninestar Corporation, PAG Asia Capital, and Shanghai Shouda Investment Centre, will bring together two ‘industry-leading’ companies with shared values of advancing the print industry. He added that by combining both company’s capabilities, Xerox will be better positioned to drive long-term profitable growth and serve its clients.
The transaction will also strengthen the ability of Xerox to serve clients in the large, growing A4 colour market, and diversify its distribution and geographic presence. The new organisation will serve more than 200,000 clients in 170 countries with 125 manufacturing and distribution facilities in 16 countries.
Once completed, Xerox expects to have a more comprehensive portfolio of products to enhance its offerings and reinforce its value proposition to clients, enabling growth across the portfolio of equipment and MPS, as well as incremental opportunities to increase penetration of its digital services and IT solutions.
Allen Waugerman, Lexmark president and CEO, commented, ‘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.’
‘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,’ concluded Mr Bandrowczak.
