Lexmark Pays $31.5M for 2 More Acquisitions

Lexmark has bought two companies, costing them US$31.5 million, to reverse a slump brought on by declining demand for computer printers and ink.

The two new acquisitions are Twistage—a New York company which sells tools for managing video, photos and audio on the Internet and mobile devices—and AccessVia, a Seattle company that makes software used by retailers to place signs and labels in their stores.

Twistage manages digital media that can be reached on any Internet-connected device which contribute to people’s less use of computer printers. And AccessVia’s technology is being used by more than 75 retailers, including Best Buy Co., Safeway Inc., Office Depot Inc. and Family Dollar Stores Inc.

CEO Paul Rooke said the two acquisitions mark another step in Lexmark’s “transition from being hardware-focused to being a leading end-to-end solutions provider”.

Lexmark bowed out of the inkjet printing market during 2012 and cut more than 2,300 jobs to reduce costs.