Xerox To Buy Printer Maker Lexmark From Chinese Owners in $1.5 Billion Deal

Xerox has agreed to acquire printer maker Lexmark for $1.5 billion, bringing the Kentucky-based company back under U.S. ownership after seven years of Chinese control. The deal, announced Monday, will be financed through cash and debt, creating a vertically integrated printing equipment manufacturer and service provider. Lexmark, formed from IBM in 1991, was previously acquired by Chinese investors including Ninestar for $2.54 billion in 2016. The merger comes as Xerox faces declining equipment sales and a 50% year-to-date stock drop, with its market value at just over $1 billion.

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