Xerox Buys Lexmark: What the $1.5B Deal Means for Your Printer
Two of the more familiar names in office printing are now, officially, one company. Here's the deal in plain terms, and what it actually changes for anyone running either brand.
The deal, briefly
Xerox Holdings Corporation announced on 23 December 2024 that it would acquire Lexmark International from Ninestar Corporation, PAG Asia Capital and Shanghai Shouda Investment Centre for US$1.5 billion, inclusive of net debt and other assumed liabilities. The acquisition closed on 1 July 2025, making Lexmark a wholly owned Xerox subsidiary consolidated into Xerox's financial results from that date. The combined business now serves more than 200,000 clients across upwards of 170 countries, with 125 manufacturing and distribution sites spread across 16 countries.
This didn't come out of nowhere
The two companies already had a close working relationship. Back in June 2021, Xerox formed an OEM partnership with Lexmark under which Lexmark supplied the print engines behind the bulk of Xerox's A4 printer range (we covered this in more detail in our piece on who really makes your printer). Buying Lexmark outright is best read as Xerox formalising a relationship it already depended on, rather than a sudden pivot.
Where Lexmark came from
Lexmark itself had been under Chinese ownership since 2016, led by a consortium including printer cartridge maker Ninestar. The Xerox deal ends that chapter and brings Lexmark's manufacturing and engineering back under a US-headquartered parent company.
What this means if you own a Lexmark or Xerox printer today
- Nothing changes overnight. Existing models, warranties, and consumables continue as normal in the near term.
- Over time, expect the product line-up between the two brands to rationalise, since there's now no commercial reason to run duplicate engineering programs for overlapping A4 models.
- If you're buying compatible cartridges, this is a good moment to double-check your printer's engine family rather than assuming brand loyalty guarantees a particular consumable lineage going forward.
It's a reminder that "who makes my printer" is worth revisiting periodically, not just at time of purchase. The printer industry has consolidated substantially over the past decade, and this deal is one more step in that direction.
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