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

Xerox has acquired Lexmark for $1.5 billion, including net debt and assumed liabilities, in a move that marks a significant shift in the printing industry. This acquisition is part of Xerox's "Reinvention" strategy, which aims to make the company a top player in every major print category and the leader in managed print services. The combined business will support over 200,000 clients in more than 170 countries and operate 125 manufacturing and distribution centers in 16 countries. The new leadership team will consist of executives from both Xerox and Lexmark, signaling a fresh start for the restructured company.