Lexmark CEO Resigns as Xerox Completes Acquisition
Deal News | Jul 07, 2025 | EIN
In a significant development for the printing industry, Xerox has successfully completed its acquisition of Lexmark International, valued at $1.5 billion inclusive of net debt and assumed liabilities. The transaction included acquiring Lexmark from its previous owners Ninestar, PAG Asia Capital, and Shanghai Shouda Investment Centre. Steve Bandrowczak, CEO of Xerox, emphasized the established partnership between the two organizations, anticipating increased success through an expanded portfolio of print solutions. Concurrently, Allen Waugerman has resigned as CEO of Lexmark, expressing pride in the company's achievements and optimism for its future impact. The merger is expected to serve over 200,000 clients across 170 countries and operate 125 facilities globally, highlighting the combined entities' expected capability to drive innovation and growth in the industry.
Sectors
- Printing & Imaging
- Mergers & Acquisitions
Geography
- United States – Xerox, a multinational corporation headquartered in the United States, leads this acquisition involving Lexmark.
- Global – The merger affects operations and clients across over 170 countries worldwide, emphasizing the global reach and impact of this acquisition.
Industry
- Printing & Imaging – The merger between Xerox and Lexmark is situated within the printing and imaging sector, focusing on expanding services and solutions in print and managed print services.
- Mergers & Acquisitions – This article primarily revolves around the merger and acquisition activity with Xerox acquiring Lexmark, showcasing strategic business expansion.
Financials
- US$1.5 billion – Total value of the acquisition deal, inclusive of net debt and assumed liabilities.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Xerox | Bidding Company/Buyer | Company | Acquirer of Lexmark, aiming to enhance its market presence and service capabilities. |
| Lexmark International | Target company | Company | A prominent player in the imaging and IoT solutions space, merged into Xerox. |
| Ninestar | Selling Company | Company | Previous owner of Lexmark, part of the sale transaction to Xerox. |
| PAG Asia Capital | Selling Company | Company | Private equity firm involved in selling Lexmark to Xerox. |
| Shanghai Shouda Investment Centre | Selling Company | Company | Involved in the previous ownership of Lexmark, participating in the sale to Xerox. |
| Steve Bandrowczak | CEO of Xerox | People | CEO overseeing the integration of Lexmark and expansion of services. |
| Allen Waugerman | Former CEO of Lexmark | People | Outgoing CEO of Lexmark following its acquisition by Xerox. |