Wed, 29 Aug 2012 | BUSINESS SALE
Lexmark International Inc., is rumoured to be exploring a sale of its inkjet-related technology.
The business has reportedly been advised by Goldman Sachs to consider the move in order to allow it to focus on its print services and laser printer businesses.
As part of its refocusing plan, the firm is to sell about 1,000 inkjet-related patents and cut 1,700 jobs, about 13 per cent of its workforce.
A number of printer companies have come on the market of late as firms struggle to keep up as corporates see printing costs as one of the first areas they can make savings in. In fact, the inkjet market declined by nearly 13 per cent in the second quarter of the year, according to research from IDC.
Wells Fargo analyst Maynard Um wrote in a note to Reuters: “Lexmark's 'rip the band-aid off' approach, while creating greater near-term revenue headwinds than a more gradual wind down, should result in a cleaner slate sooner from which to grow.”
The business is predicting a revenue decline of ten per cent next year in terms of income from inkjet hardware and supplies, although it will continue to supply ink and support to existing printers.
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