Xerox to buy printer maker Lexmark from Chinese owners for $1.5bn

Deal would bring Lexmark back to U.S. ownership

Xerox has seen its revenue shrink as demand for printers and related equipment falls, and it faces tough competition from HP and Canon, among others. © Reuters

December 23, 2024 23:16 JST

Updated on December 24, 2024 02:46 JST

(Reuters) -- Office equipment manufacturer Xerox has agreed to buy Chinese-owned printer and printing software maker Lexmark International in a $1.5 billion deal to expand its presence in Asian markets and better compete in an industry upended by the digital age.

The purchase from Ninestar, PAG Asia Capital and Shanghai Shouda Investment Centre will bring Lexmark back to U.S. ownership. Formed out of IBM in 1991, Lexmark was sold to a group of Chinese investors in a $3.6 billion deal in 2016.