Lexmark, a brand most commonly known for its printers, has purchased document-capture software provider Kofax for $1 billion. Not only will Lexmark double its enterprise software business to approximately $700 billion and increase its digital presence significantly, but it will also procure all of the outstanding shares of Kofax.
Paul Rooke, Lexmark’s chairman and CEO notes that, "Kofax accelerates Lexmark's development of industry-specific solutions while also immediately expanding our reach into the midmarket, where there is increasing demand for technology to better manage the growing amount of unstructured information and improve customer engagement.” Kofax CEO Reynolds Bish is seemingly just as excited, stating that, "Our market-leading ability to simplify and transform the First Mile of customer engagement is a strong complement to Perceptive Software's strength in managing information across silos. As a result, we're excited about the future and working together to realize the full potential of this opportunity to the benefit of all stakeholders.”
More information about the acquisition can be found at: