An acquisition of closely held Lexmark was announced Monday, confirming an earlier report from The Wall Street Journal. Xerox’s takeover of the business would bring

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 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.

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 To Buy Lexmark