Wednesday, April 10, 2013

Funai Electric Company Acquires Lexmark InkJet Technology

Photo courtesy by Google Images.
Funai Electric Company Ltd., the Japanese consumer electronics company, had acquired Lexmark Internationl Inc. inkjet -related technology and assets for $100 million as announced by the OEM printer manufacturer early this month.

"This transaction provides us with a crucial and tremendous opportunity to enhance our office solution business," said Funai President and Chief Executive Officer, Tomonori Hayashi. "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."

"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," said Paul Rooke, Lexmark Chairman and Chief Executive Officer. "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."

According to the official press release that Lexmark, Funai Electronics had acquire more than 1,500 inkjet patents, 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. It is also stated that, "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."

Either ways, Funai Electric Company had been manufacturing inkjet hardware for Lexmark since 1997 and thus had built a strong working relationship with the OEM printer manufacturer.

TonerGreen, an environmentally-concious online store that has been providing environmentally responsible printing solutions such as eco-friendly toner cartridges and eco-friendly ink cartridges, offers a wide selection of eco-friendly remanufactured Lexmark toner cartridges and other Lexmark printer supplies.

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