• Acquisition of Lexmark will strengthen Xerox in its quest to improve its presence in the enterprise market
• Lexmark was the former printer arm of IBM and, like its PCs and servers, was sold to Chinese investors.
• Xerox faces huge competition from HP, Epson and Canon

Xerox announced an agreement to acquire Lexmark in a deal valued at $1.5 billion that will create a new global market printer giant.

The company says this deal will allow Xerox to expand its printing portfolio, as well as expand its global presence and service offerings.