Lexmark sells inkjet technology patents

Apr 2, 2013

FUNAIOEM receives approximately $100 million for over 1,500 of its inkjet technology patents sold to Funai Electric Company, Ltd.

Lexmark has announced that Japanese manufacturer Funai Electric Company Ltd. will acquire more than 1,500 of the OEM’s inkjet patents in a $100 million (€78 million) deal expected to close within the first half of 2013.

The deal will also see Funai acquire Lexmark’s inkjet-related research and development assets and tools, all outstanding shares and Lexmark International (Philippines), Inc.’s manufacturing facility; which it states will allow Funai to develop, manufacture and sell inkjet hardware and supplies under its own brands.

Funai, which has headquarters in Osaka, Japan, has manufactured inkjet hardware for Lexmark since 1997, with Lexmark stating that the companies have “established a strong relationship over time”. It intends to develop and grow its inkjet printer business by introducing its own devices and supplies into the market, with the deal expected to accelerate the expansion of its inkjet business.

Tomonori Hayashi, President and CEO of Funai, said: “This transaction provides us with a crucial and tremendous opportunity to enhance our office solution business. Funai and Lexmark have developed a great partnership, and we are glad to take over Lexmark’s inkjet-related technology and assets. The acquisition of the inkjet-related technology and assets enables Funai to start and grow our own inkjet business. Funai will benefit from the strong inkjet business platform that Lexmark has established.”

Paul Rooke, CEO and Chairman of Lexmark, asserted that the deal will not disrupt the service or support the company offers to its customers, commenting: “As we continue our transition to becoming a leading end-to-end solutions provider, this transaction essentially completes our exit from the ownership of inkjet-related assets, although we will continue to support our existing customer base with the sale of inkjet supplies. Funai has been a trusted partner of Lexmark’s since 1997, and I am fully confident in Funai’s ability to deliver high-quality inkjet supplies for Lexmark.”

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