Xerox Holdings to Acquire Lexmark International

(Reuters) – Xerox Holdings announced on Monday that it would acquire Lexmark International, a manufacturer of printers and printing software, in a $1.5 billion deal.

Founded as a spinoff of IBM in March 1991, Lexmark is based in Lexington, Kentucky, and serves customers in over 170 countries across various markets, including manufacturing, retail, and financial services.

In October, Xerox stated that it would purchase ITsavvy, an Illinois-based IT products firm, for $400 million, as it seeks to expand its IT services business.