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Tue, December 24, 2024
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Xerox to buy printer maker Lexmark from Chinese owners in $1.5 billion deal

Xerox to buy printer maker Lexmark from Chinese owners in $1.5 billion deal


Published on 2024-12-24 00:24:29 - MSN
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  • Office equipment manufacturer Xerox will buy Chinese-owned printer and printing software maker Lexmark International in a $1.5 billion deal to bolster its mainstay business, the companies said on Monday.

Xerox has agreed to acquire Lexmark, a printer manufacturer, from its Chinese owners, Apex Technology, in a deal valued at $1.5 billion. This acquisition aims to bolster Xerox's position in the printing industry by expanding its product offerings and enhancing its technological capabilities. The deal includes a combination of cash and stock, with Xerox planning to finance the transaction through a mix of new debt and existing cash reserves. The merger is expected to create synergies in manufacturing, supply chain, and research and development, potentially leading to cost savings and an increase in market share. The transaction is subject to regulatory approvals and customary closing conditions, with expectations to close by the end of 2024.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/companies/xerox-to-buy-printer-maker-lexmark-from-chinese-owners-in-1-5-billion-deal/ar-AA1wmRYh ]
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