NORWALK, Conn., and LEXINGTON, Ky. (ABC36 NEWS NOW) – Xerox Holdings Corporation has announced a $1.5 billion agreement to acquire Lexmark International, Inc., combining two iconic players in the printing industry. The transaction is expected to close in the second half of 2025, according to a release from Xerox. Xerox CEO Steve Bandrowczak said the acquisition would bolster the company’s print portfolio and expand its global print and managed print services capabilities to better serve clients in a hybrid work environment. “Our acquisition of Lexmark will bring together two industry-leading companies with shared values, complementary strengths, and a deep commitment to advancing the print industry to create one stronger organization,” Bandrowczak said in the release. “By combining our capabilities, we will be better positioned to drive long-term profitable growth and serve our clients, furthering our Reinvention.” Lexmark, based in Lexington, is known for its innovative imaging solutions and technologies, including a best-in-class line of printers and multifunction printers. Lexmark’s solutions will integrate with Xerox’s ConnectKey technology and advanced print and digital services to enhance Xerox’s offerings, according to the release. The deal will also allow Xerox to expand its reach in the A4 color market, diversify its geographic presence, particularly in the Asia-Pacific region, and serve over 200,000 clients in 170 countries. The combined organization will include 125 manufacturing and distribution facilities across 16 countries. “Lexmark has a proud history of serving our customers with world-class technology, solutions, and services, and we are excited to join Xerox and expand our reach with shared talent and a stronger portfolio of offerings,” said Allen Waugerman, Lexmark president and CEO. Bandrowczak added that the merger of the two companies is expected to streamline operations and enhance efficiencies, ultimately making it easier for clients and partners to work with Xerox. Categories: Featured, Local News, National News, News Tags: Acquisition, business deal, Lexington, lexmark, local news, News, printers, printing, Xerox