We reported, Xerox replied – after our deadline. Here’s what changed.
Yesterday we published a story based on Ninestar’s announcement valuing the Xerox–Lexmark deal at between $75 million (€69.7 million) and $150 million (€139 million). That was the figure Ninestar placed on the deal—what it may net from the carve-up.
Xerox got in touch after we published to clarify the total value of the acquisition. According to Xerox: “We reaffirm that the transaction remains valued at $1.5 billion (€1.39 billion), as announced in December 2024. This figure includes debt and other liabilities.”
The clarification came just a bit too late for our Thursday deadline.
We’re happy to set the record straight. Xerox is acquiring Lexmark in full—including the liabilities Ninestar is leaving behind.
As we head into the weekend, a gentle reminder: we’re always happy to talk, ideally before the story goes live.
Who wins in the carve-up?
Ninestar acquired Lexmark in 2016 for $3.6 billion (€3.3 billion) and has spent nearly a decade extracting value from the brand.
Fast forward to 2025, and Xerox is acquiring Lexmark for $1.5 billion (€1.39 billion). That figure includes Lexmark’s substantial debt—meaning Ninestar walks away with just a fraction of the cash, reportedly $75–$150 million (€69.7–€139 million).
But it’s not all about the price tag. Ninestar offloads a debt-heavy asset and leaves the table stronger—leaner, with cash in hand, and focused on its core business.
Xerox, meanwhile, gets Lexmark’s global footprint, MPS customer base, and a deeper seat at the print hardware table—but inherits a big chunk of liabilities too.
