, Columnist
Lexmark Gets a Refill
Asia's addiction to paper could be a refuge from the increasingly digital West.
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Printing may be dying in the West but it remains alive and well in China, as befits the inventor of the technology. Paper still confers the mark of authority across much of Asia, where official chops and the fax machine remain in widespread use.
Viewed from that perspective, the purchase of Lexmark by a Chinese consortium is a natural development. The U.S. printer maker has agreed to sell itself to a group led by Apex Technology, a Chinese maker of ink cartridges, in a deal that values the company at $3.6 billion including debt. Asian private equity fund PAG Asia Capital and Legend Capital Management, the venture arm of Lenovo's parent, are also among the buyers.