Funai to launch own inkjet operations after Lexmark buy

Lexmark OEM partner shells out $100m for its inkjet patents, R&D and manufacturing facilities

Lexmark has sold its inkjet printer assets to OEM partner Funai for $100m (£66m).

The printer vendor announced last August that it would exit the inkjet market as part of a restructuring drive.

Today it confirmed that OEM partner Funai is buying its inkjet-related technology and assets as part of its mission to introduce inkjet printers and supplies into the market under its own brand.

The deal includes more than 1,500 inkjet patents, Lexmark's inkjet-related research and development assets and tools and its manufacturing plant in the Philippines.

Funai has knocked out inkjet hardware for Lexmark since 1997 and said the deal would kick-start its plans to become a printer brand in its own right.

"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," said Funai chief executive Tomonori Hayashi.

Lexmark claimed that its customers and distributors would see no disruption of service or support as a result of the move.

Lexmark chief executive Paul Rooke said: "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."