Printer maker Lexmark International Inc has agreed to be taken private by a group of investors led by China-based Apex Technology Co Ltd and PAG Asia Capital in a deal valued at $3.6 billion, the company said.

Reuters reported earlier this month that Apex, which manufactures ink cartridge chips, was in negotiations to buy Lexmark.

Like other printer makers, Lexmark has struggled to adjust as corporate clients slash costs and consumers shift to mobile devices from personal computers.

Lexmark said the deal will help its efforts penetrate the Asia-Pacific market.

The deal, which is expected to close in the second half of 2016, is subject to regulatory approvals in the United States, including by the Committee on Foreign Investment in the United States.

CFIUS is an interagency committee of the US government that reviews mergers to ensure they do not compromise national security.

Western Digital Corp said in February a unit of China's Unisplendour Corp Ltd terminated a deal to take a 15 percent stake in the company after a decision by CFIUS to conduct an investigation.

Lexmark had announced in October that it was exploring strategic alternatives, including a sale, and that it had hired Goldman Sachs Group Inc as an adviser.

Lexmark will remain headquartered in Lexington, Kentucky, and Chairman and Chief Executive Paul Rooke is expected to continue to lead the company.

The deal will be financed through equity contributions by the consortium and debt financing.

Legend Capital Management Co Ltd, the venture capital arm of Legend Holdings Corp, is also the part of consortium.

Goldman Sachs is acting as financial adviser to Lexmark, and Wachtell, Lipton, Rosen & Katz is its legal counsel.

The consortium is being advised by Moelis & Co financially along with Skadden, Arps, Slate, Meagher & Flom while King & Wood Mallesons is acting as the legal counsel.