History
Lexmark was formed in 1991 when IBM divested its printer and printer supply operations to the investment firm Clayton & Dubilier, Inc. in a leveraged buyout. Lexmark became a publicly traded company in 1995. In those early days, IBM became Lexmark's main customer for keyboards, as IBM contracted Lexmark to produce the Model M keyboard and some more cost-effective variants of it.
IBM believed at the time that due to the development in technology there was no future anymore for a profitable printer business: the "paperless office" was expected to become reality soon.
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