A consortium led by China's Apex Technology has reached deal to buy Lexmark International for about $3.6 billion, the printer giant announced on Wednesday.

The consortium, led by Guangdong-based Apex Technology and PAG Asia Capital, together with Legend Capital, will acquire Lexmark for $3.6 billion or $40.50 per share in an all-cash transaction.

Lexmark’s shares gained 12 per cent couple hours after the news was released.

The deal will help Lexmark broaden its access to the vast market opportunities in Asia, said the company in a statement.