Lexmark discusses “smart” MFPs

August 9, 2016

lexmarksmartmfpThe OEM outlined the ecosystem surrounding its MFPs, and how users can “bridge paper and digital” with machines.

On its website, the OEM stated that “in an ecosystem, things work in concert to ensure efficient processes”, while “in the business environment, people, technology and information also form an ecosystem, where information exists in both structured and unstructured forms”, with the centre of this “the smart MFP, the connection point between digital and printed information”. It noted that its ecosystem “brings together the hardware, software, tools and services” to drive businesses “forward”.

Lexmark went on to note that the “smart and simple” ecosystem consists of “a set of technologies and capabilities enabled by every Lexmark smart MFP”, working together “with your IT infrastructure and applications” to improve “the operation of everyday tasks and processes through smart capabilities”. It also allows for “ease of use” with “minimal training”, better “employee productivity”, and more “consistent print quality and colour fidelity”.

Other advantages include increased “security, data confidentiality, energy usage and regulatory compliance”, flexibility, and “manageability […] from a central location”. The OEM adds that “paper isn’t going away – it’s a key element of many processes, and often a repository of business history”, but “you can seamlessly connect unstructured information from the physical world of paper to the digital world of structured information”.

The ecosystem, Lexmark states, “captures and moves documents directly into electronic storage”, and can “help eliminate paper altogether”.

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CIT launches new Lexmark toner

August 5, 2016

Lexmark's C792de

Lexmark’s C792de

The company has launched a “qualified toner” for use in a range of the OEM’s devices.

CIT stated that the “new qualified toner” is designed for use in a range of Lexmark’s laser printers, including the C and X790, 792, 794 and 796, adding that the toner is a chemically-produced toner with LGA compliance.

For more information, visit www.citbv.com.

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US regulator begins Apex-Lexmark study

August 2, 2016

The Committee on Foreign Investment will undertake a 30-day review followed by a 45-day investigation into the merger.CFIUS

National Law Review hosted the notice filed by the Committee on Foreign Investment in the United States (CFIUS), which was filed on 15 July and added to by a filing on 25 July from Apex, in relation to the merger between Apex and Lexmark. The notice was “accepted” by CIFUS , with details included on the equity investors PAG Asia Capital and Legend Capital Management, while Apex’ disclosure to the Shenzhen Stock Exchange on 25 July was also referenced.

This disclosure noted that Apex and Lexmark expect the CIFUS review of the case to take 30 days, while a “full 45-day investigation” will take place after that. Lexmark revealed last week that the merger had been approved by its shareholders at a special shareholder meeting, where 70 percent of the “outstanding Lexmark shares were voted”, and of those that did, 99 percent “voted in favour of the merger”.

Lexmark added however that the merger “remains subject to certain regulatory approvals”, such as the CFIUS, as well as “other customary closing conditions”. The merger is expected to be completed in the second half of the year, despite The Recycler reporting earlier this year that Lexmark employees were attempting to block the deal. The OEM had also previously discussed the merger and what it meant, while a host of law firms had started investigations into the deal.

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Lexmark sees revenue fall

August 1, 2016

The OEM’s second quarter results saw it report a fall in revenue overall of two percent.Lexmarknewlogosign

In its quarterly results, Lexmark revealed that revenue had fallen from $879 million (€786 million) to $863 million (€772 million) year-over-year, a drop of two percent, while the imaging solutions and services (ISS) segment – which includes printers and cartridges – saw a six percent fall compared to last year, with revenue now at $698 million (€624 million) from last year’s figure of $740 million (€662 million).

The OEM’s gross profit margin fell from 41.2 percent to 39.1 percent, while net debt stood at $886 million (€793 million), and core revenue – excluding that from the OEM’s exit from the inkjet business – stood at $848 million (€759 million). In its results release, Lexmark mentioned again that its shareholders had approved the merger agreement between itself and Apex , depending on regulatory approval, and stated that it would “not conduct quarterly conference calls while the transaction is pending”.

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Lexmark helps refugee family

July 29, 2016

The OEM builds its 21st Habitat for Humanity home, and a Congolese family move in.

HABITAT-2016

The house, which took 750 hours to complete, was built by 70 Lexmark volunteers and was funded by Lexmark, has been handed over to Charmelle Kindeke and her four children. Kendeke works for Aramark, but hopes to go back to school to further her education and give her family a better life. She said that the children “are excited to have their own yard with lots of room to dance and play”. The family have been living in Lexington for six years since fleeing the Democratic Republic of Congo.

CEO of Lexington Habitat, Rachel Smith Childress, claimed that Lexmark has “fully sponsored more families with homeownership than any other single entity”. The family joined volunteers on the project as Habitat has a requirement of “sweat equity”. Chris Case, Lexmark’s Volunteer Coordinator, said: “I was able to work with the homeowner the first build week. She was very excited about her new home being constructed and was surprised how many volunteers showed up to build her house.”

He added: “Homeownership builds stronger families, and communities as the homeowners feel more connected and have a sense of pride for their home and surrounding community. I have been blessed and want to give back to our community and as a bonus, I get to learn a little along the way.”

Lexmark has been partner of the non-profit organisation since 1998, and Lexington’s chapter was

founded in 1976. Habit for Humanity undertakes to creating “a world where everyone has a decent place to live [bringing] people together to build homes, communities and hope”.

 

 

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Apex-Lexmark merger approved by shareholders

July 25, 2016

The merger was approved by shareholders, though it still needs to pass government and regulatory approvals.apexlogo

Lexmark revealed that the merger, announced earlier this year, had been approved by its shareholders. At a special shareholder meeting held this weekend, 70 percent of the “outstanding Lexmark shares were voted”, and of those that did, 99 percent “voted in favour of the merger”. Lexmark added however that the merger “remains subject to certain regulatory approvals”, such as the Committee on Foreign Investment in the US and “other customary closing conditions”.

The merger is expected to be completed in the second half of the year, despite The Recycler reporting earlier this year that Lexmark employees were attempting to block the deal. The OEM had also previously discussed the merger and what it meant, while a host of law firms had started investigations into the deal.

LexmarkLogo_RGB_300Paul Rooke, Chairman and CEO of Lexmark, commented: “Today our shareholders approved this definitive merger agreement by an overwhelming margin. This transaction is in the best interests of our shareholders, and we are confident it will benefit our customers, provide new opportunities for our employees, and enable Lexmark to continue to grow, innovate and expand our market presence in the Asia Pacific region.”

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Rise in Chinese investment worldwide

July 21, 2016

A Bloomberg feature studies how private equity from China is “taking on the world’s giants”.china

The article notes that such firms are pursuing “overseas deals at record pace”, with the industry “expanding globally at an unprecedented pace” led by companies including AGIC, Legend Capital and Golden Brick Capital. The firms are “in competition with European and US counterparts like never before”, having been “fuelled by China’s growing wealth, investor sophistication and desire to gain exposure to overseas assets”.

Chinese funds have been involved in around $16.4 billion (€14.8 billion) in cross-border deals in 2016 so far, surpassing the previous record of $11 billion (€9 billion) in 2012, where as previously the industry was “better known for ‘buy-and-flip’ investments in local companies already primed to go public”. Chinese regulators asked for help on getting such companies to “add more value”, and this year has seen Legend and PAG Asia Capital partner with Apex to acquire Lexmark.

That $3.6 billion (€3.2 billion) deal is just one of many that has happened because of “China’s growing army of high-net worth individuals”, who are “increasingly keen to diversify overseas” after China’s recent economic issues, and the Lexmark deal was also one of a few in which private equity firms work alongside “corporates and financial firms to help structure the deals and amplify their buying power”.

The funds are also becoming “more active in their home market”, partly due to a “regulatory bottleneck for initial public offerings – which encouraged companies to turn to PE firms for financing”, and also because of the rise of China’s internet industry, which its government “shields from foreign ownership”. The domestic funds also have an advantage in “identifying promising investment targets”, though many overseas firms are also investing in China.

These foreign firms, for the most part however, are “concerned about rising valuations” in China, with the average acquisition target in China last year having a value of 18 times its earnings, while “most signs point toward a bigger role” for Chinese equity firms “both at home and abroad”.

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New Lexmark printers launched in South Africa

July 19, 2016

The A4 700 and 8000 series of laser printers and MFPs have been made available by distributor Drive Control Corporation (DCC).

Lexmark's CX725

Lexmark’s CX725

IT Web reported on the launch, with the new printers including the CS270, 275 and 820 single-function machines (the CS700 and CS800 ranges), and the CX725, 820, 825 and 860 MFPs (the CX700 and CX800 ranges).  The site noted that the devices “meet the demand of this fast-growing segment of the print and imaging industry”, citing IDC data that showed the third quarter of last year in the global market was a “very strong segment for worldwide MFP activity”.

The machines feature an Android user interface for “very familiar mobile device qualities and characteristics”, as well as “high-powered document scanning capabilities”, an “enhanced mobile device printing experience” and “robust, enhanced security tools”. A new generation of Unison core and shell toner meanwhile has “lower friction and works at lower temperatures”, helping to drop energy consumption “by a third”.

In turn, new photo conductors and drums “using long-life components” are said to help “lower maintenance and ensure improved TCO), while the MFPs utilise a “powerful quad core processor” for faster printing and copying speeds. All the devices have a tablet-like touchscreen, while the “flagship CX860” has “industry-best toner capacity, large input/output capacity and flexible media support”.

Colin Pretorius, Lexmark Product Specialist at DCC, commented: “The Lexmark A4 printers and MFPs enable us to readily supply products to the growing A4 printer marketplace. The devices offer quality and advanced features that will provide excellent business productivity and TCO gains.”

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Lexmark calls special meeting of its shareholders

June 29, 2016

The OEM wants shareholders to vote on the “Agreement and Plan of Merger”.LexmarkLogo_RGB_300

After investigations by law firms into the objectivity of the sale of Lexmark International, Inc. to the syndicate headed by Apex Technology the OEM has invited its shareholders to vote on the merger.

The planned meeting is for 22 July and the vote and the legal document from Lexmark asks shareholders to vote to merge with its “LLCs and Apex technology”. The legal document is 185 pages long and on the first page the company states “The board has approved the merger agreement and determined that the merger agreement is advisable, fair to and in the best interests of the Company

and its stockholders, in each case by the unanimous vote of the directors present at the meeting held to approve the transaction.”

It goes on to say that “The board unanimously recommends that the stockholders of the Company vote “FOR” the proposal to adopt the merger agreement. In addition, the board unanimously recommends that the stockholders of the Company vote “FOR” the advisory (non-binding) proposal to approve specified compensation that may become payable to the named executive officers of the Company in connection with the merger and “FOR” the proposal to adjourn the special meeting if necessary or appropriate to solicit additional proxies”.

The document also says that “the merger cannot be completed unless holders of a majority of the outstanding shares of common stock vote in favour of the adoption of the merger agreement”.

 

 

 

 

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Lexmark releases new application for MFPs

June 28, 2016

The OEM has improved its AccuRead Automate 2.0 to distinguish multi-page documents.LexmarkLogo_RGB_300

Lexmark say that this will increase “efficiency and performance” and that the updated software will be available from August. The application will require “an initial input of the different variants which eliminates manual pre-sorting”, and “additional enhancements include expanded automation functions that provide even faster and more precise capture and processing of documents and greatly accelerate downstream processes”.

The new format enhances the fundamental features of AccuRead Automate, and improves the speed of document classification and storage in retrievable files. Sorting is now “performed on full text” which allows the “recognition and classification of documents”, and results in “lower error rate than previous versions.” The solution is available for the Lexmark CX7 and CX8 series of colour printer products.

Danny Molhoek, General Manager for North West Europe at Lexmark, said: “Businesses in the UK struggle with capturing printed information and retrieving it easily when needed. Often manual steps are required for before and after the scanning process owing to the wide variety of document types available. Other barriers to data extraction from printed documents include insufficient employee training and limited network bandwidth in remote locations.

“This update optimises the core features of the AccuRead Automate solution, ensuring a smoother operation. It also includes significant improvements in speed and performance when classifying documents and extracting the relevant information.”

 

 

 

 

 

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