Lexmark International, Inc. announced that it has entered into a definitive merger agreement with a consortium of investors led by Apex Technology Co., Ltd. (Apex) and PAG Asia Capital (PAG). The agreement enables Lexmark's continued focus on strategic initiatives while strengthening access to substantial market opportunities in Asia.
"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, Lexmark chairman and chief executive officer. "The transaction will benefit our customers and provide new opportunities for our employees.
"As part of the Consortium, Lexmark will be able to reach the next level of growth and innovation, to the benefit of our customers, business partners and suppliers, faster than we could achieve on our own," added Rooke. "With the Consortium's resources, we will be able to continue to invest in and grow the business to more fully penetrate the Asia Pacific market for hardware, software and managed print services."