Xerox Buys Lexmark For $1.5 Billion As Print Industry Clings To Relevance

BrianFagioli shares a report from NERDS.xyz: In a move that feels straight out of a different era, Xerox has officially acquired Lexmark for $1.5 billion. The deal includes net debt and assumed liabilities, and it pulls Lexmark out of the hands of Chinese ownership and into a freshly restructured Xerox. That's a lot of money for a company best known for making machines that spit out paper.

According to Xerox, this is all part of a 'Reinvention' strategy. The company now claims it will be one of the top five players in every major print category and the leader in managed print services. Xerox says the new leadership team will include executives from both sides, and the combined business will now support over 200,000 clients in more than 170 countries. They'll also be running 125 manufacturing and distribution centers in 16 countries.

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