Xerox to Acquire Lexmark for $1.5 Billion

Xerox Holdings Corporation has announced an agreement to acquire Lexmark International, Inc. for a total consideration of $1.5 billion. Ropes & Gray advised Xerox on the acquisition, representing it in a deal that involves the purchase of Lexmark from Ninestar Corporation, PAG Asia Capital, and Shanghai Shouda Investment Centre. The acquisition is poised to significantly bolster Xerox's core print portfolio, allowing it to expand its global capabilities within the print and managed print services market. Lexmark specializes in cloud-enabled imaging and IoT technologies and its integration into Xerox is expected to enhance the latter's service offerings globally. Ropes & Gray's team, consisting of private equity and mergers & acquisitions partners, was pivotal in navigating this deal, showcasing their expertise across various legal frameworks including intellectual property, real estate, tax, litigation, and employment benefits.