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A New Era of Unified Global Print Management: Lexmark Joins the Xerox Workplace Cloud Ecosystem A New Era of Unified Global Print Management: Lexmark Joins the Xerox Workplace Cloud Ecosystem Lexmark announce a landmark development in enterprise technology. Following the strategic acquisition of Lexmark by Xerox in July 2025, the partnership yields its first and…
Xerox to Acquire Lexmark in $1.5B Strategic Move to Redefine Global Print Leadership
Combination creates industry powerhouse with unmatched A3/A4 portfolio and hybrid workplace solutions
NORWALK, Conn., & LEXINGTON, Ky. — Dec. 23, 2024
Xerox Holdings Corporation (NASDAQ: XRX) today announced a definitive agreement to acquire Lexmark International, Inc., from Ninestar Corporation and consortium partners for $1.5 billion. The transaction, slated to close in H2 2025 pending approvals, unites two print technology pioneers to deliver end-to-end intelligent office solutions across 170 countries.
Strategic Imperatives
Market Dominance: Creates #1 player in managed print services (MPS) with top-5 global share across entry, mid, and production segments
APAC Expansion: Strengthens Xerox’s foothold in high-growth Asian markets via Lexmark’s established manufacturing/distribution network
Tech Synergy: Integrates Lexmark’s AIoT imaging platform with Xerox ConnectKey® ecosystem for seamless hybrid work enablement
Leadership Perspectives
“This merger accelerates our Reinvention strategy by marrying Lexmark’s operational excellence with Xerox’s digital services leadership,” said Xerox CEO Steve Bandrowczak.
“Joining forces unlocks unprecedented R&D scale to redefine workplace productivity,” added Lexmark CEO Allen Waugerman.
Financial Highlights
$200M+ Cost Synergies: Expected within 24 months post-close
EPS Accretive Day One: Drives path to double-digit adjusted operating income
Strengthened Balance Sheet: Pro forma gross debt leverage drops from 6.0x to 5.4x pre-synergies, targeting sub-3.0x mid-term
Transaction Mechanics
Financing: Cash reserves + committed debt facilities
Dividend Adjustment: Annual payout reduced to $0.50/share starting Q1 2025 to prioritize deleveraging
Advisors: Jefferies/Citi (Xerox financial); Morgan Stanley (Lexmark)
Post-Merger Snapshot
200K+ corporate clients served globally
125 production/distribution sites spanning 16 nations
Combined R&D spend exceeding $750M annually
Subject to regulatory/Shareholder approvals. Full details at investors.xerox.com.
#PrintIndustryConsolidation #HybridWorkTech #EnterpriseTransformation
(XRX Investor Relations: David Beckel +1-203-849-2318)
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