Hyland Software Said to be Purchasing Lexmark’s Software Group for $1.5 Billion

Reuters reported today that Hyland Software will shortly be purchasing Lexmark International’s software division for nearly $1.5 billion – a move that could come as early as next week – according to sources familiar with the matter.

Hyland Software, which is based in Ohio, is the developer of an enterprise content management (ECM) and process-management software suite called OnBase, which competes with Lexmark’s products, and which is used in healthcare, finance, government, education, and manufacturing

It’s said that Lexmark’s owners – China’s Apex Technology and PAG Asia Capital – are both seeking to sell-off what the companies consider “non-core units” in order to expand Lexmark’s imaging business in Asia. Apex Technology and PAG Asia Capital acquired Lexmark for $3.6 billion last November.

According to Reuters: “Hyland Software has outbid private-equity firms in an auction for Lexmark’s enterprise software group, known as Kofax, and may reach a deal as early as next week, the sources said this week. Negotiations could still end unsuccessfully, they added. ” Lexmark acquired the enterprise software group Kofax in 2015 for $1 billion.

More Resources

%d bloggers like this: