Lexmark Sells Its Inkjet Printer Assets in $100 Million Deal

On April 1, Lexington, Kentucky-based Lexmark International announced that it will sell its inkjet printer assets to the Japanese electronics firm Funai in a $100 million deal. Among the assets are more than 1,500 U.S. and foreign patents, as well as Lexmark’s ink manufacturing operations in the Philippines.

In a statement regarding the agreement, Funai CEO Tomonori Hayashi, ,  said, “This deal enables us to start and grow our own inkjet business. Our company will also benefit from the strong inkjet business platform established by Lexmark.”

According to the statement, Lexmark will still offer technical and guarantee support for its current customers. Further, Funai will manufacture ink under its own brand name to customers currently using Lexmark printers.

Lexmark spokesman, Jerry Grasso, added, “Lexmark is not reducing its workforce in Lexington for Monday’s announcement.”

Though Lexmark produces its own ink and toner, it also has other manufacturers that make its printer hardware. Funai and Lexmark have had this kind of strong business relationship since 1997. In addition, Funai produces televisions, DVD and Blu-ray products.

This deal will be accomplished no later than July 2013.