Funai to Acquire Lexmark's Inkjet-Related Technology and Assets for $100M

Funai Electric Company today announced that it has signed an agreement to acquire Lexmark International, Inc.'s LXK inkjet-related technology and assets for approximately $100 million (approximately JPY 9.5 billion). Upon closing of the transaction, Funai will acquire more than 1,500 inkjet patents, Lexmark's inkjet-related research and development assets and tools, all outstanding shares and the manufacturing facility of Lexmark International (Philippines), Inc., and other inkjet-related technologies and assets. Through this transaction, Funai will acquire the capabilities to develop, manufacture and sell inkjet hardware as well as inkjet supplies. The transaction is subject to customary closing conditions and is expected to close within the first half of 2013. As an OEM manufacturer, Funai has manufactured inkjet hardware for Lexmark since 1997 and the companies have established a strong relationship over that time. The acquisition of the inkjet-related technology and assets will enable Funai to launch new inkjet See full press release