Office equipment manufacturer Xerox has agreed to buy Chinese-owned printer and printing software maker Lexmark International for $1.5 billion (₹12,800 crore). Lexmark was formed out of IBM in 1991 and was sold to Chinese investors in a $3.6 billion deal in 2016. Xerox had made a hostile bid worth $35 billion for Hewlett Packard before COVID-19 pandemic hampered the plan.