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.