Lexmark Completes Kofax Acquisition; Bish is New President of Lexmark Enterprise Software Division
May 21, 2015 – Lexmark International reports that it’s completed its acquisition of Kofax Limited. Lexmark acquired Kofax in a cash transaction for $11.00 per share, for a total enterprise value of approximately $1 billion. Lexmark says the Kofax acquisition will nearly double the size of its Enterprise Software group, and expects annualized revenue to be approximately $700 million.
Lexmark also announced that Scott Coons, president of Lexmark’s Enterprise Software division will retire at the end of July 2015. Coons led Lexmark’s software division since Lexmark acquired Perceptive Software in 2010.
During Coons’ tenure, Lexmark’s Enterprise Software expanded from its enterprise content management (ECM) software roots into process, capture-and-search technologies, and strengthened the company’s industry-focused solutions. Coons also helped expand the Enterprise Software team’s international footprint through sales investment and acquisitions. Coons will assist in the leadership transition until his retirement date.
Effective immediately, Reynolds C. Bish, CEO of Kofax, succeeds Coons as president of Lexmark’s Enterprise Software. Bish will also be a Lexmark vice president and report directly to Paul Rooke, Lexmark chairman and CEO. Bish has been active in enterprise software markets for more than 20 years. He has led Kofax since 2007, and prior to that, Bish co-founded Captiva Software Corporation and served as its president and CEO from 1989 until its acquisition in 2005.
- May 2015: NEW PERCEPTIVE CHECKLIST CAPTURE FOR CAPTURING CONTENT WITH LEXMARK MFPS, MOBILE DEVICES, AND DESKTOPS
- April 2015: LOWER REVENUE AT LEXMARK FOR FIRST QUARTER, BUT MEETS EARNINGS FORECAST
- April 2015: LEXMARK LAUNCHES NEW TAGLINE, ‘OPEN THE POSSIBILITIES,’ AND LOGO
- March 2015: LEXMARK TO ACQUIRE KOFAX FOR $1 BILLION – WILL CREATE ‘BROADEST’ PORTFOLIO OF DOCUMENT- AND DATA-CAPTURE SOLUTIONS
- January 2015: LEXMARK REPORTS LOSS FOR FOURTH QUARTER, BUT SEVENTH CONSECUTIVE QUARTER OF REVENUE GROWTH
- January 2015: LEXMARK ACQUIRES CLARON, PROVIDER OF MEDICAL-IMAGING AND DISTRIBUTION SOFTWARE
- November 2014: READSOFT IS NOW OFFICIALLY PART OF LEXMARK INTERNATIONAL, MERGED INTO PERCEPTIVE SOFTWARE
- October 2014: NEW SERVER-LESS LEXMARK ACCUREAD PROVIDES AUTOMATIC ROUTING, DATA EXTRACTION, NOTIFICATIONS FOR SCANNED DOCUMENTS
- October 2014: STRONG QUARTER FOR LEXMARK; MPS AND PERCEPTIVE SOFTWARE REVENUE FORECAST TO REACH $1 BILLION