About LEXMARK INTERNATIONAL INC.

Lexmark is all about the printing. Its printer business offers a range of imaging and printing equipment, from laser and dot matrix printers to multifunction devices as well as supplies of ink and related products. Besides providing hardware and ink, Lexmark is happy to set up an infrastructure to organize an organization’s printing processes through its managed print services. The company has returned to a printing-oriented business after going private with the November 2016 acquisition by Apex Technology and investor partners. In 2017, the company sold its enterprise software-related businesses.

Change in Company Type

Lexmark had hired Goldman Sachs to explore alternatives to its ongoing business strategy. A group of investors led by China-based Apex Technology and PAG Investment Capital bid about $3.6 billion for Lexmark, which was accepted.

Operations

Lexmark's Imaging Solutions and Services business offers a broad portfolio of monochrome and color laser printers and laser multi-function products as well as a wide range of supplies and services covering its printing products and technology solutions.

Geographic Reach

Lexmark has facilities in the US, as well as in Australia, Brazil, Canada, China, France, Germany, Mexico, The Netherlands, the Philippines, Switzerland, and the UK. It sells its products in more than 170 countries. The US has accounted for about half of the company's revenue.

Sales and Marketing

Lexmark distributes its printers and related products via IT resellers, direct marketing resellers, and copier dealers. It markets it software through a direct sales force, as well as a network of third-party resellers.

Financial Performance

Lexmark's last quarterly report as a public company covered the first three quarters of 2016.

Lexmark reported $2.5 billion in revenue for the first nine months of 2016, down from about $2.6 billion in 2015. The company’s net rose to about $53 million in the first three quarters of 2016 from about $30 million in the same period in 2015.

Strategy

Like a number of other companies, Lexmark is de-emphasizing hardware to focus more on supplies and services that generate recurring revenue. The document management services offered in its Enterprise Software unit reflect that move as was the 2013 sale of its inkjet technologies and assets to Funai Electric Co for about $100 million.

However, in 2017, Lexmark reversed course, selling the Enterprise Software unit to Thoma Bravo. With the sale, Lexmark became a strictly imaging provider. The Enterprise Software sale included not only the Kofax business, which Lexmark bought in 2015, but the ReadSoft business, a 2014 acquisition. Thoma Bravo paid a reported $1.5 billion for the software unit.

Although Lexmark has been quiet in the emerging market for 3D printing, but it could move quickly into that business through an acquisition. The financial wherewithal of its owners could help in that regard.

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LEXMARK INTERNATIONAL INC.

740 W New Circle Rd
Lexington, KY 40511-1876
Phone: 1 (859) 232-2000
Fax: 1 (859) 232-2156

Stats

  • Employer Type: Public
  • SVP, CTO and Interim Co-CEO: Allen Waugerman
  • SVP, Chief Revenue Officer and Interim Co-CEO: Brock Saladin
  • SVP, CTO and Interim Co-CEO: Allen Waugerman
  • 2015 Employees: 13,600

Major Office Locations

  • Lexington, KY

Other Locations

  • Costa Mesa, CA
  • Irvine, CA
  • Pleasanton, CA
  • Sacramento, CA
  • Highlands Ranch, CO
  • Longmont, CO
  • Washington, DC
  • Coral Gables, FL
  • Coral Springs, FL
  • Davie, FL
  • Rosemont, IL
  • Southfield, MI
  • Minneapolis, MN
  • Kansas City, MO
  • Apex, NC
  • Montvale, NJ
  • Park Ridge, NJ
  • Coopersburg, PA
  • Columbia, SC
  • Houston, TX
  • Irving, TX
  • Plano, TX
  • Reston, VA
  • Brossard, Canada
  • Calgary, Canada
  • Edmonton, Canada
  • Gloucester, Canada
  • Kitchener, Canada
  • Québec, Canada
  • Sooke, Canada
  • Toronto, Canada
  • Vancouver, Canada
  • Victoria, Canada
  • Winnipeg, Canada
  • Aix En Provence, France
  • Bordeaux, France
  • Labege, France
  • Lille, France
  • Lyon, France
  • Nantes, France
  • Reims, France
  • Strasbourg, France
  • Suresnes, France
  • Vadodara, India
  • Taipei City, Taiwan
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