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Both printer giants have had a tough year, with Xerox losing more than 50% of its share price thanks to slowing equipment sales, and supplier Lexmark embroiled in an import tussle with the U.S.

Pavlo Gonchar / SOPA Images / LightRocket via Getty Images Xerox said it was purchasing privately held Lexmark International from its Chinese owners for $1.5 billion to meet the needs of clients ...

Office equipment manufacturer Xerox will buy Chinese-owned printer and printing software maker Lexmark International in a $1.5 billion deal ... in a deal valued at $3.6 billion in 2016.

An acquisition of closely held Lexmark was announced Monday, confirming an earlier report from The Wall Street Journal.

(Reuters) -- Office equipment manufacturer Xerox has agreed to buy Chinese-owned printer and printing software maker Lexmark International in a $1.5 billion ... in a $3.6 billion deal in 2016.