Xerox Holdings Corporation has agreed to acquire Lexmark International, Inc. for $1.5 billion.
The acquisition aims to strengthen Xerox's position in the printing sector by enhancing its product portfolio and expanding its global presence.
Xerox expects to grow its client base to over 200,000 customers across 170 countries and achieve cost synergies of more than $200 million within two years.
The acquisition will enable Xerox to provide improved printing solutions and compete effectively in the evolving market.