Xerox Holdings is nearing a deal for Lexmark International that values the maker of printers and printing software at $1.5 billion, including debt, the Wall Street Journal reported on Monday. An acquisition of closely held Lexmark is expected to be announced Monday morning,

Xerox Holdings Corp. today announced plans to buy Lexmark International Inc., one of its main competitors in the printer market, for $1.53 billion. The company plans to finance the deal with a combination of cash and debt financing. It’s buying Lexmark from Ninestar Corp., PAG Asia Capital and Shanghai Shouda Investment Centre.

Xerox said it was purchasing privately held Lexmark International from its Chinese owners for $1.5 billion to meet the needs of clients in the hybrid workplace.

Office equipment manufacturer Xerox has agreed to buy Chinese-owned printer and printing software maker Lexmark International in a $1.5 billion deal to expand its presence in Asian markets and better compete in an industry upended by the digital age.

Xerox will buy printer maker Lexmark International, one of the Norwalk company’s suppliers, in a $1.5 billion deal. It will acquire the company from its current owners, China’s Ninestar Corp., PAG Asia Capital,

Xerox Holdings Corp. has agreed to acquire Lexmark International Inc. from Ninestar Corporation, PAG Asia Capital and Shanghai Shouda Investment Centre in a deal valued at $1.5 billion.

Xerox agreed to buy Lexmark from its current owners for $1.5 billion in a landmark deal that will consolidate two iconic printer brands. Because of this, Bloomberg says that American and Chinese regulators must approve the purchase.

Xerox To Buy Lexmark