Lexmark Int'l To Explore Strategic Alternatives - Quick Facts

(RTTNews) - Printer maker and enterprise services provider Lexmark International Inc (LXK) said that that its board has authorized the exploration of strategic alternatives to enhance shareholder value. The Board has formed a committee of independent directors to assist in the exploration of strategic alternatives. There is no set timetable for the exploration of strategic alternatives.

No decision has been made with regard to any alternatives, and there is no assurance that the Board's exploration of strategic alternatives will result in any transaction being entered into or consummated.

The Board believes that Lexmark has created value through its actions to transform the company and believes that a full review of strategic alternatives, beyond the operational and financial actions the company has taken to date, is the next step to unlocking the intrinsic value created by the company.

Lexmark has built a $3.7 billion global technology company that includes a $1.5 billion Higher Value Solutions business comprised of Enterprise Software and Managed Print Services.

Lexmark's Enterprise Software has grown to an annualized revenue run rate of approximately $700 million.

Lexmark's Managed Print Services has delivered revenue growth for each of the past 15 years.

Lexmark has a $2.4 billion annuity revenue base comprised of laser supplies, extended warranty, software maintenance and software subscriptions.

Assisting the Board in the evaluation process are financial adviser Goldman, Sachs & Co., transaction and advisory services firm Ernst & Young LLP, and the law firm of Wachtell, Lipton, Rosen & Katz.