Xerox to buy printer maker Lexmark from Chinese owners in $1.5 billion deal

(Reuters) -Xerox Holdings said on Monday it would buy Lexmark International, the maker of printers and printing software, in a$1.5 billion deal.

The Lexington, Kentucky-based Lexmark was formed as a spinoff of IBM (NYSE:IBM) in March 1991, according to the company’s website. It caters to customers in more than 170 countries in markets, including manufacturing, retail and financial services.

In October, Xerox (NASDAQ:XRX) had said it would buy ITsavvy, an Illinois-based IT products firm, for $400 million, as the office equipment maker looks to expand its IT services business.