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Here's your TNB Tech Minute for Monday, December 23rd. I'm Cordelia James for The Wall Street Journal. Xerox has struck a deal to buy printer maker Lexmark in a $1.5 billion transaction, including debt. Xerox is expected to finance the deal with a combination of cash on hand and committed debt financing. The takeover brings Lexmark back into U.S. hands after it agreed to be sold to a group of Chinese buyers in 2016.
The deal would create a vertically integrated manufacturer, distributor, and provider of printing equipment and services, and Boozlex marks revenue by about one-third. It would also bolster Xerox's core printing portfolio and help it expand its services globally. China's electric vehicle sector is expected to keep growing in 2025. That's according to an analyst at CCB International.
Total industry sales volume is projected to rise about 25 to 30 percent next year, driven by hybrid plug-in cars. The analyst says new energy vehicles bought next year will still qualify for tax exemption, and the government is likely to extend its trade-in program for old cars, which will support sales.
And two tech stocks with cult followings, MicroStrategy and Palantir, have joined the Nasdaq 100. MicroStrategy, a software company turned crypto investor, celebrated the index edition by adding to its stash of Bitcoin. It bought about $561 million of Bitcoin last week, funded by issuing new stock. Shares of MicroStrategy fell nearly 9%, and shares of Palantir edged up.
And before we go, heads up, we'll be back with our next TNB Tech Minute on Monday, December 30th. For a deeper dive into what's happening in tech, check out tomorrow's Tech News Briefing podcast.