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Lexmark International Inc. considered moving its headquarters overseas to save money on taxes earlier this year, according to chief financial officer David Reeder.

But the printing company decided to stay in its Lexington, Ky. home, after spending the bulk of its offshore cash to buy software developer Kofax Ltd.

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“We do a lot of business with state and local governments,” said Mr. Reeder in an interview with CFO Journal, adding that many of those customers might not look kindly on a company that relocated offshore.

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