Leading investors consortium led by Apex Technology Co., Ltd. (Apex) and PAG Asia Capital (PAG), acquired Lexmark in an all-cash transaction with an enterprise value of approximately $3.6 billion.
The Consortium intends to maintain Lexmark’s corporate headquarters in Lexington, Kentucky, USA. Paul Rooke, chairman and chief executive officer of Lexmark is expected to continue to lead Lexmark after the transaction closes.
The two business groups of Lexmark Imaging Solutions and Services and Enterprise Software, as well as the company’s regional and country operations, are expected to continue unaffected and benefit strategically and financially from the transaction.
“This is an exciting transaction that Lexmark’s Board of Directors believes is in the best interests of our shareholders following an exhaustive strategic alternatives review process to maximize value,” said Paul Rooke, chairman and CEO at Lexmark. “The transaction will benefit our customers and provide new opportunities for our employees.
The merger will be financed through equity contributions by the Consortium and debt financing. The merger is not subject to a financing condition.
“Lexmark’s passion for excellence and unwavering commitments to customers, employees and communities represent a tremendous cultural fit. We are excited to work alongside Lexmark as it continues to invest in advanced technologies and solutions to best serve its customers and business partners while simultaneously pursuing additional untapped opportunities for future growth.” said, said Jackson Wang, chairman at Apex Technology.
