• Lexmark announces completion of acquisition

        • Lexmark International, Inc. has announced the successful completion of the acquisition by a consortium of investors (Consortium) led by Apex Technology Co., Ltd. (Apex) and PAG Asia Capital (PAG). Legend Capital Management Co. Ltd. (Legend Capital) is also a member of the Consortium.

          The completion of the transaction follows the receipt of all the necessary approvals, including approval by Lexmark shareholders, regulatory approvals in the US, including the Committee on Foreign Investment, China and certain other foreign jurisdictions, and other customary closing conditions. The Consortium will maintain Lexmark's corporate headquarters in Lexington, Kentucky. David Reeder, formerly Lexmark Vice President and Chief Financial Officer, has been named the company's new President and Chief Executive Officer, succeeding Paul Rooke.

          Paul Rooke, Lexmark's former Chairman and Chief Executive Officer said, "we are excited to have completed the transaction, which provides significant cash value to our shareholders, benefits our customers and provides new opportunities for our employees. As the company enters its next phase, it is time for the next generation of leadership to continue the work to ensure Lexmark's industry leadership.

          "David Reeder is an extraordinary leader and has spent his entire career in technology. Since joining Lexmark, David has worked closely with me on transforming the business, and I believe he is well equipped to continue Lexmark's transformation for our customers and employees.”

          Lexmark's Enterprise Software group will be separated from Lexmark and rebranded to Kofax. The Consortium and Lexmark will engage in a process to sell the business while focusing on growing the imaging business, particularly in China and the Asia-Pacific region. Lexmark common stock has ceased trading on the New York Stock Exchange and under the terms of the merger agreement, which was announced on April 19, 2016, Lexmark shareholders will receive $40.50 per share in cash.

          Goldman, Sachs & Co. acted as financial advisor to Lexmark, and Wachtell, Lipton, Rosen & Katz acted as the company's legal counsel. Moelis & Company acted as financial advisor to the Consortium, along with Skadden, Arps, Slate, Meagher & Flom and King & Wood Mallesons as legal counsel.

        • Stay up to date - Click here and register for FREE Channel Info online membership and enjoy unlimited access to a host of benefits including the exclusive members area of the website, downloadable business tools, current and back issues archive, priority breaking news alerts, weekly e news summary and the Channel Info app

        • Related Articles

        • Lexmark recognised for Outstanding Value in A3 Enterprise Colour Printing

          Lexmark recognised for Outstanding Value in A3 Enterprise Colour Printing

          Wednesday 18th Jul 2018
          Lexmark has been recognised by Keypoint Intelligence-Buyers Lab with a Summer 2018 Pick award for Outstanding A3 Colour Printer for Enterprise Environments. Keypoint Intelligence-Buyers Lab is an independent provider of testing services and analytic...Read More...
          Durable announces Kamen-Methler site expansion

          Durable announces Kamen-Methler site expansion

          Tuesday 17th Jul 2018
          By the end of 2018 work will begin to expand Durable’s Kamen-Methler production site in North Rhine-Westphalia, Germany. In 2015 the Kamen-Methler production plant celebrated its 50th anniversary. Over those 5 decades the production ...Read More...
          Armor Office Printing and Speed Infotech form alliance

          Armor Office Printing and Speed Infotech form alliance

          Tuesday 17th Jul 2018
          Armor Office Printing, and Speed Infotech, have decided to join forces, creating a boost for the circular economy as both companies are committed to the collection, production and marketing of remanufactured cartridges. The alliance is taking place i...Read More...
                • About Us

                  Channel Info is the leading source of business news and information for the office dealer and reseller market. Our multi-platform approach delivers relevant, engaging and focussed content via our main printed magazine, supplements, website, digital editions, apps, newsletters and bespoke communications with an unrivalled reach across the industry. A highly trusted and respected brand for many years, the team behind Channel Info has over 60 years experience collectively in the office products, furniture, equipment and technology markets Channel Info continues to develop and adapt in order to meet the changing information needs of its readers.

                  For our latest Media packs and more details on our range of services click here

                • View Latest Issue