Lexmark International on Tuesday announced it has inked a deal to sell the United States printer maker to a consortium of Asian investors for some $3.6 billion. If the transaction gets clearance from shareholders and regulators, it will take the publicly traded company private.
The deal was expected to close in the second half of this year. "This is an exciting transaction," said Lexmark CEO Paul Rooke. "With the consortium's resources, we will be able to continue to invest in and grow the business to more fully penetrate the Asia-Pacific market for hardware, software and managed print services."
The Lexmark board of directors unanimously approved the sale to a group led by Apex Technology, a China-based company that makes and distributes inkjet and laser cartridge components. The consortium included PAG Asia Capital, a buyout arm of one of Asia's largest private equity firms with funds, and Legend Capital of China.