December 7, 2016
Lexmark revealed earlier this year that the merger had been approved by shareholders, though it “remain[ed] subject to certain regulatory approvals”, such as the CFIUS, as well as “other customary closing conditions”, though the CFIUS later approved it. The merger had been 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.
After it was officially completed earlier this week, Apex and Ninestar have now released a statement, noting that they “are delighted” with the deal, which has seen Apex take “a great step onto the global business stage”. They added that “this is not only a milestone development in Apex’s history, but a landmark event for the global printing industry as a whole”.
The acquisition “represents a historic and powerful partnership”, and Apex and Ninestar “are confident in reaching the next level of growth and innovation, to the benefit of all our suppliers and business partners, even faster than we could have achieved on our own”. For Lexmark meanwhile, the deal “not only enables its continual focus on high-end strategic initiatives in order to maintain its position as the leading printing solutions provider in the industry.
“It also provides Lexmark with new avenues to substantial market opportunities in China and the Asia Pacific region”. Both Apex and Ninestar noted their belief that the day the deal was agreed “is a day that all Apex and Ninestar staff, partners, suppliers and clients won’t forget, and one that deserves to be remembered […] from now on, Apex will have a role to play in every aspect of the printing industry, from software to hardware, from OEM to compatible consumables, and from components to microelectronic chips”.
Both companies also pointed out that “it is a big possibility” that the merger will “mark the next step towards a global printing empire. That is our goal: to be a leading imaging solutions provider both for the aftermarket and OEM market throughout the world”. The two concluded by quoting psychologist Edith Lovejoy Pierce, who said in her book Opportunity that “we will open the book. Its pages are blank. We are going to put words on them ourselves”.
They stated that the deal is “chapter one of our book named ‘Opportunity’”, with Apex and Lexmark “not the only contributors to this book – we believe our partners and clients will no doubt have many chances in the future to fill chapters of their own”.
Jackson Wang, Chairman of Apex Technology, commented: “Lexmark’s passion for excellence and unwavering commitments to customers, employees and communities represent a tremendous cultural fit. We are excited to work alongside Lexmark as it continues to invest in advanced technologies and solutions to best serve its customers and business partners while simultaneously pursuing addition untapped opportunities for future growth.”
Categories : World Focus