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.
- February 2017: Ninestar Discusses Lexmark Acquisition; Aims to be ‘One Stop Provider’ for Printer Industry
- January 2017: Lexmark to Lay Off 10 Percent of Software Group Employees
- December 2016: This Week in Imaging: Poor Boy Gets Rich Girl, Apex Speaks Out on Lexmark Acquisition
- December 2016: Apex Technology Says Lexmark Acquisition Will Help it Create Global Printer Empire
- November 2016: It’s Official: Lexmark Acquired by Apex and Investors; Reeder Named CEO
- October 2016: Revenues Flat for Lexmark as Apex Technology Acquisition on the Horizon
- September 2016: Apex Rumoured to be Considering Selling Lexmark’s Software Division
- May 2015: Lexmark Completes Kofax Acquisition; Bish is New President of Lexmark Enterprise Software Division