Lexmark announced today that it would sell its inkjet-related technology and assets for approximately $100 million (roughly £66 million) as it transitions to a “B2B solutions-focused” company.
The buyer of the inkjet printing assets of Lexmark (including nearly 1,600 patents) is none other than Funai, a popular Japanese consumer electronics firm that has its fingers in everything from LCD television sets to gas cookers.
Funai and Lexmark have been partners for more than 15 years with the former manufacturing inkjet printer hardware for the latter. This means that the relationship started only shortly after the US-based company became a publicly traded company on the NYSE.
Lexmark was formed back in 1991 when IBM spun off its printer and printer supply operations.
In August last year, it announced that it would stop producing inkjet printers but still continues to maintain its lucrative laser printer business.
Most importantly, it will continue to be an original equipment manufacturer for the likes of Dell and IBM Infoprint.
As for Funai, it will now be able to sell printers under its own name. Note that earlier this year, the Japanese company acquired Philips’ Lifestyle Entertainment business.