Xerox Holdings Corporation has successfully completed the acquisition of Lexmark International in a $1.5 billion deal, marking a significant move to enhance its print business. The transaction, which closed on July 2, 2025, includes net debt and assumed liabilities. This strategic acquisition is part of Xerox’s broader strategy to adapt to the changing work landscape in the aftermath of the Covid-19 pandemic.
The merger brings together two industry stalwarts with a rich history in the print sector. Xerox, established in 1906, is renowned for its innovative office photocopiers and has diversified into managed print services and workplace solutions in recent years. On the other hand, Lexmark, founded in 1991 as a spin-off from IBM, has established itself with reliable laser printers, print management software, and exceptional service across various sectors such as healthcare and finance.
Steve Bandrowczak, CEO of Xerox, expressed admiration for Lexmark’s strong reputation in print and managed print services, its extensive client base, and global presence. The collaboration between the two companies has been longstanding, culminating in the formal acquisition that elevates their partnership to new heights.
Following the closure of the deal, Bandrowczak will continue in his role as Xerox’s CEO, while Allen Waugerman, the former CEO of Lexmark, has stepped down. Waugerman acknowledged the merger as a pivotal moment for both companies, shaping the future of the printing industry. The leadership team of the newly merged entity will comprise executives from Xerox and Lexmark, with operations spanning across numerous countries and a vast client base.
Xerox anticipates that the acquisition will fortify its core business, expand its market reach, and enhance its customer base. By integrating Lexmark into its operations, Xerox now ranks among the top players in every major print segment, a move that accelerates its business reinvention and revenue growth.
For customers, the merger is expected to bring about a wider array of products, improved service coverage, and integrated solutions. This consolidation of resources and expertise is poised to deliver enhanced value to clients across various industries and geographies.
As Xerox and Lexmark merge their capabilities and resources, industry experts foresee a positive impact on the printing sector. The combined entity’s expanded product offerings, global presence, and technological expertise are likely to drive innovation and competitiveness in the market. The merger could potentially lead to greater customer benefits, improved service quality, and a more robust product portfolio.
Overall, the Xerox-Lexmark acquisition signifies a significant milestone in the print industry, reshaping the competitive landscape and setting the stage for enhanced collaboration and innovation in the evolving digital printing ecosystem.
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