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7 January 2025
Xerox Buying Lexmark
LEXINGTON, KENTUCKY—
Xerox is acquiring laser printer manufacturer Lexmark in a $1.5 billion deal, buying out the Chinese investors that bought it in 2016. The deal Xerox claims, will strengthen their print portfolio by bringing in several lines of printers suitable for corporate in-house reprographics and the A4 colour market. Lexmark has more than 200,000 clients across 170 countries, taking a top five global share in each of the entry and mid production-level print markets, the company stated.
Based in Lexington, Kentucky, Lexmark was already a partner of and supplier to Xerox. Being able to connect Lexmark’s machines with Xerox’s ConnectKey workflow at the source, as well as offering with Xerox’s print and digital services, says Xerox. This acquisition comes as the latest part of its ‘reinvention’ strategy, which has seen Xerox reduce its workforce, cut legacy machine production, focus on its digital and print services, and release multiple new print products, including forging brand-new partnerships like that with Inkjet machine manufacturer Screen.In October Xerox reported the seventh consecutive quarter where sales have fallen. Sales Xerox's major business unit, Print & Other, were down 7.5% at nearly $1.46 billion.
Formed out of IBM in 1991, Lexmark was sold to Chinese investors in a $3.6 billion deal in 2016.
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Xerox has stop making its iGen5 and Nuvera digital presses because they are not profitable
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