Xerox acquires Lexmark for $15 billion to expand printer market and meet large-size printing needs
Xerox announced its acquisition of Lexmark for $15 billion, expanding its printer business and entering the large-format printing market. This acquisition will give Xerox control of Lexmark's product lines, manufacturing equipment, and distribution channels, integrating Lexmark's printers and IoT solutions with Xerox's product and service offerings. It will also increase Xerox's customer base to over 20 in more than 170 countries, with 125 manufacturing facilities in 16 countries. Furthermore, it will expand its entry-level and large-format printing markets and strengthen its managed printing services. As Lexmark is currently a leading supplier of A4-size color printing and consumables, Xerox will leverage this acquisition to strengthen its printing product line, expand into the large-format printing market, and reinforce its previously less developed Asia-Pacific market. Currently, the global printer market is mainly dominated by HP, Epson, and Canon, which together hold more than 60% of the market share. The remaining market share is contested by Ricoh, Brothers, Kyocera, Sharp, Konica Minolta, Samsung, Xerox, and Lexmark. Therefore, Xerox's acquisition of Lexmark is expected to further strengthen its competitiveness in the printer market.