Lexmark's technology is worth 100 million dollars!

Funai announced an agreement with Lexmark yesterday to acquire Lexmark inkjet technology and related devices worth about $ 100 million.

With the agreement, Funai will purchase more than 1500 Lexmark inkjet technology patents and related research and development assets and assets and all outstanding shares, Lexmark International Inc.’s Philippine plant, and other similar inkjet technologies and devices. With this transaction, Funai, as with inkjet supplies, will create opportunities to develop, manufacture and sell inkjet hardware. The agreement is expected to be completed in the first half of 2013. As an OEM (original equipment manufacturer), Funai has been manufacturing inkjet hardware for Lexmark since 1997.

The acquisition of inkjet technology and tools will allow Funai to introduce new inkjet hardware and accessories under its own brand name. With Funai’s latest strategy, it plans to develop and grow in the inkjet printer market by introducing its own Funai inkjet printers and supplies. With inkjet patents, outstanding manufacturing facilities and comprehensive R&D capabilities, Funai can further strengthen its presence in the inkjet market.

Services and support will continue to be seamlessly available to Lexmark customers and distributors. From now on, Funai will be a manufacturer of Lexmark inkjet supplies, but Lexmark will continue to support its inkjet supplies sales partners and provide them with technical and warranty support. Goldman, Sachs & Co. was Lexmark’s sole financial advisor during the transaction.