Thought Leadership
The US printer group Xerox wants to expand its market position with a major takeover. Competitor Lexmark is to be taken over by the Chinese Ninestar Corporation and investors PAG Asia Capital and Shanghai Shouda Investment Centre for 1.5 billion dollars.
With the acquisition, Xerox aims to strengthen its core business in the printer market and expand its Managed Print Services business. “By combining our capabilities, we will be better positioned to drive long-term profitable growth and serve our clients, furthering our Reinvention.,” explains Xerox CEO Steve Bandrowczak. A particular focus will be on solutions for the increasingly hybrid working world.
Lexmark, a printer manufacturer based in Lexington, Kentucky and already a partner and supplier to Xerox, will contribute its expertise in the field of innovative imaging solutions and technologies. The integration of Lexmark solutions with Xerox ConnectKey technology and advanced print and digital services will create a superior product portfolio.
The merger will strengthen Xerox’s position in the growing A4 color printer market and expand its geographic footprint, particularly in the APAC region. The new company will serve more than 200,000 customers in 170 countries and have 125 manufacturing and sales locations in 16 countries.
The transaction is expected to close in the second half of 2025 and is subject to the approval of the regulatory authorities and Ninestar’s shareholders. Until then, both companies will continue to operate independently.
“Lexmark has a proud history of serving our customers with world-class technology, solutions and services, and we are excited to join Xerox and expand our reach with shared talent and a stronger portfolio of offerings,” said Lexmark CEO Allen Waugerman of the proposed acquisition.
