Xerox has agreed to buy the laser printer maker Lexmark International Inc. from a consortium of Asian investors in a deal valued at $1.5 billion.

The transaction includes debt and other liabilities that Xerox will assume from current owners Ninestar Corp., PAG Asia Capital and Shanghai Shouda Investment Centre. Xerox will cut its annual dividend to 50 cents a share from $1 to help finance the takeover, according to a company statement Monday. The deal is expected to close in the second half of 2025, pending approval from U.S. and Chinese regulators.

Lexmark, spun off in 1991 by International Business Machines Corp., is already a partner and supplier to Xerox.

— Bloomberg