Ninestar seeks a stake in Lenovo printer unit
April 10, 2019
The Chinese-headquartered company, formerly named Apex Technologies, has announced its plans to acquire a 10 percent stake in the printer business unit of Lenovo Image Technology, IT-ONLINE reveals.
Ninestar Corporation already holds a majority stake in Lexmark, which it acquired in 2016, leading a consortium in the process which included Legend Capital and PAG Asia.
Details of the Lenovo Image Technology acquisition are still in the process of being revealed.
Ninestar Corporation is a significant player in the office imaging arena, with its majority stake in Lexmark sitting alongside its ownership of Static Control Components, Apex Microelectronics, and its namesake, Ninestar Image.
Ninestar Image is a manufacturer and seller of a variety of aftermarket printing consumables, including “inkjet chips; toner cartridge components, such as laserjet chips, drums, toners, rollers, blades, and others; copier chips; and chip testing equipment comprising OEM chip resetters and testers, and generation chips.”
The news of the Lenovo acquisition comes in the wake of Ninestar’s January release of primarily positive financials for Q3, which concluded 31 December 2018. In its financial report the company revealed a slight rise in the value of its total assets, as well as an increase in operating income and a substantial boost in net cash flow from operating activities.
In November last year, Ninestar’s directors made the decision to acquire a minority shareholder’s equity of Zhuhai Yingxin Technology Co., Ltd., as a means of strengthening the company’s “business backbone” and aiding Ninestar in its pursuit of “sustainable and healthy development.”
As a result of Ninestar’s Board opting to sign the equity acquisition agreement, the company will “gradually acquire a 5 percent equity interest”, following a transaction of RMB5 million ($718,989/€636,944).
Categories : City News
Tags : Acquisition Business Lenovo Ninestar Corporation Printing
