Latest news with #Lexmark
Business Wire
01-07-2025
- Business
- Business Wire
Xerox Completes the Acquisition of Lexmark, Uniting Two Industry Leaders
NORWALK, Conn.--(BUSINESS WIRE)-- Xerox Holdings Corporation (NASDAQ: XRX) today completed its acquisition of Lexmark International, Inc. from Ninestar Corporation, PAG Asia Capital, and Shanghai Shouda Investment Centre. The transaction, valued at $1.5 billion inclusive of net debt and assumed liabilities, marks a significant milestone in the company's strategic transformation and reinforces its commitment to delivering innovative workplace solutions in an evolving hybrid environment. 'We've long admired Lexmark's strong print and managed print services reputation, robust client and partner base, and global presence. Over the years, we've built a collaborative partnership, and today, we take our business to the next level,' said Steve Bandrowczak, chief executive officer at Xerox. 'Together, we will drive greater success for our clients and partners through a broader portfolio of Print and Managed Print solutions, furthering our Reinvention and solidifying our path toward long-term profitable growth.' 'Today is a pivotal moment for Xerox and Lexmark as these two great companies combine to shape the future of the printing industry,' said Allen Waugerman, who is stepping down as Lexmark president and chief executive officer with this close. 'Leading Lexmark has been an incredible opportunity, and I look forward to the accomplishments that lie ahead.' Steve Bandrowczak will remain CEO of Xerox with an executive team comprised of Xerox and Lexmark leaders. The unified leadership team is structured to accelerate innovation and scale, leveraging the deep bench of talent from both companies. The combined organization will serve over 200,000 clients in over 170 countries and operate 125 manufacturing and distribution facilities in 16 countries. "With the acquisition of Lexmark, Xerox now stands among the top five in every major print segment and is the market leader in managed print services. This strategic combination strengthens our core business by adding exposure to growing parts of the Print market, manufacturing capacity and expanding our distribution reach," said Bandrowczak. "The transaction accelerates our Reinvention by improving our mix of revenue from growing markets and further enabling long-term growth in adjusted operating profit through structural simplification. By uniting two complementary portfolios and deepening our capabilities, we're better equipped than ever to deliver innovative, end-to-end solutions that drive success for our clients across every geography and industry." Transaction Detail The acquisition was financed through a combination of cash on hand and debt financing. The company continues to expect the transaction to be accretive to 2025 adjusted earnings per share and free cash flow and result in a lower level of pro forma gross debt leverage. Further, the company expects approximately $240 million of transaction-related cost synergies to contribute over $1/share of additional adjusted EPS accretion by the end of the second year following the transaction close. Advisors Jefferies LLC is serving as the financial advisor to Xerox and Citi is also providing financial advice. Ropes & Gray LLP and Willkie Farr & Gallagher LLP are serving as legal advisors to Xerox. Morgan Stanley & Co. LLC is serving as financial advisor to Lexmark and Strait Capital Management is serving as financial advisor to Ninestar Corporation. Dechert LLP is serving as legal advisor to Lexmark, as well as Ninestar Corporation, PAG Asia Capital and Shanghai Shouda Investment Centre and King & Wood Mallesons is serving as PRC counsel to Ninestar Corporation. Forward-Looking Statement This press release and other written or oral statements made from time to time by management contain 'forward looking statements' as defined in the Private Securities Litigation Reform Act of 1995 and involve certain risks and uncertainties. The words 'anticipate', 'believe', 'estimate', 'expect', 'intend', 'will', 'would', 'could', 'can', 'should', 'targeting', 'projecting', 'driving', 'future', 'plan', 'predict', 'may' and similar expressions are intended to identify forward-looking statements. The Company's actual results may differ significantly from the results discussed in the forward-looking statements. These statements reflect management's current beliefs and assumptions and are subject to a number of other factors that may cause actual results to differ materially. Such factors include but are not limited to: applicable market conditions; global macroeconomic conditions, including inflation, slower growth or recession, delays or disruptions in the global supply chain, higher interest rates, and wars and other conflicts, including the current conflict between Russia and Ukraine; our ability to succeed in a competitive environment, including by developing new products and service offerings and preserving our existing products and market share as well as repositioning our business in the face of customer preference, technological, and other change, such as evolving return-to-office and hybrid working trends; failure of our customers, vendors, and logistics partners to perform their contractual obligations to us; our ability to attract, train, and retain key personnel; execution risks around our Reinvention; the risk of breaches of our security systems due to cyber, malware, or other intentional attacks that could expose us to liability, litigation, regulatory action or damage our reputation; our ability to obtain adequate pricing for our products and services and to maintain and improve our cost structure; changes in economic and political conditions, licensing requirements, and tax laws in the United States and in the foreign countries in which we do business; the risk that multi-year contracts with governmental entities could be terminated prior to the end of the contract term and that civil or criminal penalties and administrative sanctions could be imposed on us if we fail to comply with the terms of such contracts and applicable law; interest rates, cost of capital, and access to credit markets; risks related to our indebtedness; the imposition of new or incremental trade protection measures such as tariffs and import or export restrictions; funding requirements associated with our employee pension and retiree health benefit plans; changes in foreign currency exchange rates; the risk that we may be subject to new or heightened regulatory or operation risks as a result of our, or third parties,' use or anticipated use of artificial intelligence technologies; the risk that our operations and products may not comply with applicable worldwide regulatory requirements, particularly environmental regulations and directives and anti-corruption laws; the outcome of litigation and regulatory proceedings to which we may be a party; laws, regulations, international agreements and other initiatives to limit greenhouse gas emissions or relating to climate change, as well as the physical effects of climate change; our ability to successfully integrate the Lexmark business and realize the anticipated benefits thereof, including expected synergies; and other factors that are set forth from time to time in the Company's Securities and Exchange Commission filings, including the combined Annual Report on Form 10-K of Xerox Holdings and Xerox Corporation. These forward-looking statements speak only as of the date hereof or of the date to which they refer, and the Company assumes no obligation to update or revise any forward-looking statements as a result of new information or future events or developments, except as required by law. About Xerox Holdings Corporation (NASDAQ: XRX) Xerox has been redefining the workplace experience for over a century. As a services-led, software-enabled company, we power today's hybrid workplace through advanced print, digital, and AI-driven technologies. In 2025 Xerox acquired Lexmark - expanding our global footprint, strengthening service capabilities, and equipping us to deliver an even broader portfolio of workplace technologies to our clients. Today, we continue our legacy of innovation to deliver client-centric, digitally driven solutions that meet the needs of a global, distributed workforce. Whether in offices, classrooms, or hospitals, we help our clients thrive in a constantly evolving business landscape. Xerox ® is a trademark of Xerox in the United States and/or other countries.
Time Business News
27-06-2025
- Business
- Time Business News
Lexmark Customer Service—Approach to Customer Support
Particularly in this new age of accelerated everything, we again fail to appreciate forces of human nature and place too much trust in technology and not enough in people. From grocery and retail self-checkout counters, to in-home, artificial-intelligence-driven, virtual assistants, technology is the new normal. When our devices don't work right or mislead us, what we want is the humanity and common sense that only a human being can muster. That's where Lexmark customer service swings into action — not just as a helpdesk, but as a valued resource dedicated to eliminating everyday tech hassles. This somewhat trusting service Lexmark offered helped them get recognized far beyond as a producer of rugged hardware. It became an entity that could be relied on for friendly, trustworthy assistance. Whether you're a small business owner stuck in a printer jam, or an IT officer managing hundreds of devices, Lexmark's support staff greets you with clear direction, soothing words and real solutions. Their mission is pretty straightforward too— save you the most time and money in resolving your issue without feeling like a freaking garage door opener ATM. Assisting Americans exactly like you What continues to set Lexmark apart from the majority of its industry competition is the company's focus on maintaining living, breathing human beings as the most important factor in its customer service approach. Imagine that—when you chat their team, you'll be talking with a real estate tech smart help agent that 1.) Listens 4 / 5 3 ) Interactive and incredibly inventive It's not pie-in-the-sky technology — their ingenious little black box can be any kind of cool or interesting information you want it to be and fosters conversations that really feel like authentic person-to-person exchanges. Whether your challenge is figuring out how to connect to a wireless printer, finding out what to do when you're about to run out of a toner cartridge or need an old printer's error code, Lexmark's support agents approach every call with a cool, customer-oriented attitude. Unlike a full of themselves robocar developer, they don't just provide the correct alternative, but make you better by essentially giving you the lesson plan that explains what you did wrong and how to not make the same mistake in the future. Lexmark has taken the guesswork out of connecting, no matter what your level of IT experience. Their forms of support are detailed below, but consist of the following. Channel Phone Direct and personal, good for urgent or complex needs In-the-moment Real-time, fast, and convenient, best for users who like support while support is perfect for that long-tail less urgent issue or FAQ that requires multiple pages of paperwork to go understand that nobody wants to go through the trouble of opening a support ticket, so we've created an extensive library of step-by-step guides, how-to FAQs, and video walkthroughs for self-service troubleshooters. From their easy to use yet powerful command center dashboard to their market leading intuitive mobile app, their platform is literally built around the end user. Filter by product type, explore by trending topics, or search using your device's model number for step-by-step, guided assistance customized to your devices. After all, telling your problem on the phone doesn't always do it! Lexmark understands this as well, and that's why they've become the industry leader in remote assistance where a Lexmark technician can log into your system (with your permission) and go straight to the root of problems. Taking a practical approach removes the trial and error and is an honest time looking for saved motivation users will drop something complicated at the first pause. It's a great business service and example of Lexmark's business commitment in general to not only sell you a printer — but be there for it, long after you buy it. When your mission-powered printer has an unexpected hiccup, every minute counts. From keeping school work from printing to business papers and mailing labels, printing issues can be an absolute day-ender. Lexmark's customer service knows that for you, every minute matters. Lexmark gives you nimble, speedy customer service that saves you time and money. One, they can fix every problem on first try almost all the time (close to 99 percent). Their model doesn't consider a morass of seemingly perpetually creative deposits or having to re explain your problem to five different call center workers. If agencies provide just one point of contact who guides them through the entire process, continuity is established. This is key to building trust and ensuring successful outcomes. Here's How Customer Feedback Directly Influences Miro's Service Of course, Lexmark doesn't accept any of this on faith. It does so much more than just ask for feedback right after a support encounter, and then even embeds it into your record. By HEARING from real HUMAN customer VOICES they turn more CUSTOMER CENTERED getting better at what they DO and DISRUPTING their own PROCESSES updating DOCUMENTATION, TRAINING their TEAM MEMBERS etc. After you've submitted a complaint, they follow up. When a customer experience doesn't meet Lexmark's high standards, Lexmark's patented customer support managers are frequently dispatched to call personally to understand what went wrong and how they can make it right. It's those small things that really show the heart of a company that really respects their end user. Lexmark's customer service doesn't just stop at troubleshooting services. Their certified agents will counsel you on ways to achieve the best, most efficient use of your device—from saving you ink, connecting your device to the cloud for printing, automating cumbersome workflows to meet the needs of today's busy, multi-device office. What wins the best, most infrequent users to regular, happy patrons In large part, that proactive, continuous and timely support is what turns those rare users into regular patrons. The emphasis is just how amazing it is that a tech company truly understands user experience not just as a marketing buzzword, but in literally every single interaction they have with a customer. At a time when most organizations are offshoring, automating and removing the human touch at all costs, Lexmark does the opposite. It opts for heart over haste, kindness over Konami code. The outcome? A two-way, rather than one-way, individualized customer experience. Lexmark delivers much deeper than a printer. Lexmark, where trust takes shape. With their service forward, friendly, knowledgeable, customer support team at your fingertips—you're never fighting the tech battle alone. Together with Lexmark, we've just shown what best-in-class customer support truly looks like—not just reparative, but integrative technology. It's not just a smart business move though. TIME BUSINESS NEWS
Yahoo
24-05-2025
- Business
- Yahoo
Why Xerox Plunged on Friday
Xerox announced a reduction in its dividend today. It's the second dividend cut since December 2024. The reason cited was "increased flexibility" ahead of Xerox's upcoming acquisition of Lexmark. 10 stocks we like better than Xerox › Shares of printer and services giant Xerox (NASDAQ: XRX) plunged 13.7% on Friday as of 1:30 p.m. ET, after the company announced a reduction in its dividend -- the second cut in the span of six months. The dividend cut isn't a great sign of confidence, but a positive, if there is one, is that the cut was made ahead of the closing of a large acquisition. So, it's probably prudent for Xerox to devote more cash to paying down acquisition debt, given current global economic uncertainty. Back in December 2024, Xerox announced the $1.5 billion acquisition of Lexmark International, an existing Xerox partner that provides innovative imaging solutions. Since Xerox is increasing its existing $3.3 billion debt load -- though just $1.7 billion outside of the debt that finances its equipment leases -- Xerox decided to cut its dividend, from $1 per share annually to $0.50. But today, Xerox informed shareholders it would be cutting the dividend again, to $0.10 annually, another 80% cut. The reasons, according to the company, were that the closing of the Lexmark acquisition will be happening sooner than expected, as well as the increased global uncertainty created by the Trump administration's tariff policy. Usually, a dividend cut is a very negative sign. While today's cut isn't exactly a positive, it's probably the right thing to do for Xerox. In addition, if Xerox successfully integrates Lexmark and begins de-levering successfully, the stock could have lots of upsides from here. According to Xerox's 2025 guidance given on May 1, the company projects low-single-digit revenue growth and a 5% adjusted operating margin this year. That would lead to roughly $315 million in operating income, which would amount to $90 million in pre-tax income, assuming the same $225 million in interest expenses the company had last year. Xerox's market cap has fallen to just $555 million today, reflecting a just a 6 to 7 times multiple on that guidance. Keep in mind that these numbers don't reflect the Lexmark acquisition, which will increase the debt but also contribute nearly $300 million in additional adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA). So, if Xerox can successfully integrate Lexmark and begin paying down debt, today's sell-off could be an opportunity. However, the company's low growth prospects and debt load also make it somewhat risky. Still, investors who like these type of deep-value situations should put Xerox on their watch lists, and follow how successfully the company integrates Lexmark. Before you buy stock in Xerox, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Xerox wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $640,662!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $814,127!* Now, it's worth noting Stock Advisor's total average return is 963% — a market-crushing outperformance compared to 168% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Billy Duberstein and/or his clients have no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Xerox Plunged on Friday was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
24-05-2025
- Business
- Yahoo
Xerox Holdings Corporation (XRX) Cuts Dividend Again, Now Down to $0.025
Xerox Holdings Corporation (NASDAQ:XRX) announced that its Board of Directors has updated its dividend policy ahead of completing the Lexmark acquisition, lowering the quarterly dividend to $0.025 per share, which amounts to $0.10 annually. Based in Connecticut, Xerox Holdings Corporation (NASDAQ:XRX) specializes in creating and manufacturing print and digital document products, along with providing related services. In December 2024, Xerox Holdings Corporation (NASDAQ:XRX) had already announced a dividend cut tied to the Lexmark deal, focusing on paying down debt once the acquisition is finalized. Since then, rising yields on Xerox's publicly traded debt have increased its borrowing costs, making debt reduction even more important. In addition, the anticipated earlier closing of the Lexmark acquisition and ongoing tariff and trade uncertainties have made maintaining financial flexibility a top priority. Mirlanda Gecaj, chief financial officer, made the following comment about the recent development: 'Consistent with our previously stated capital allocation priorities to reduce leverage post-closing, we believe reducing our dividend creates greater financial flexibility to deploy cash in the most accretive manner. The dividend remains an important component of our capital allocation policy as we continue to optimize our allocation framework ahead of the Lexmark acquisition close.' XRX has a dividend yield of 11.12%, as of May 23, and the stock has declined by over 45% since the start of 2025. While we acknowledge the potential of XRX as an investment, our conviction lies in the belief that some deeply undervalued dividend stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for a deeply undervalued dividend stock that is more promising than XRX but that trades at 10 times its earnings and grows its earnings at double digit rates annually, check out our report about the . READ MORE: and Disclosure. None.
Yahoo
24-05-2025
- Business
- Yahoo
Xerox Holdings Corporation (XRX) Cuts Dividend Again, Now Down to $0.025
Xerox Holdings Corporation (NASDAQ:XRX) announced that its Board of Directors has updated its dividend policy ahead of completing the Lexmark acquisition, lowering the quarterly dividend to $0.025 per share, which amounts to $0.10 annually. Based in Connecticut, Xerox Holdings Corporation (NASDAQ:XRX) specializes in creating and manufacturing print and digital document products, along with providing related services. In December 2024, Xerox Holdings Corporation (NASDAQ:XRX) had already announced a dividend cut tied to the Lexmark deal, focusing on paying down debt once the acquisition is finalized. Since then, rising yields on Xerox's publicly traded debt have increased its borrowing costs, making debt reduction even more important. In addition, the anticipated earlier closing of the Lexmark acquisition and ongoing tariff and trade uncertainties have made maintaining financial flexibility a top priority. Mirlanda Gecaj, chief financial officer, made the following comment about the recent development: 'Consistent with our previously stated capital allocation priorities to reduce leverage post-closing, we believe reducing our dividend creates greater financial flexibility to deploy cash in the most accretive manner. The dividend remains an important component of our capital allocation policy as we continue to optimize our allocation framework ahead of the Lexmark acquisition close.' XRX has a dividend yield of 11.12%, as of May 23, and the stock has declined by over 45% since the start of 2025. While we acknowledge the potential of XRX as an investment, our conviction lies in the belief that some deeply undervalued dividend stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for a deeply undervalued dividend stock that is more promising than XRX but that trades at 10 times its earnings and grows its earnings at double digit rates annually, check out our report about the . READ MORE: and Disclosure. None. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
