Lexmark International Inc., best known for its printing services and document workflow products, has announced a definitive agreement to acquire document imaging and management software vendor Perceptive Software for about $280 million in cash.
Shawnee, Kan.-based Perceptive Software serves multiple industry and government sectors, with a sizable presence in health care. It's ImageNOW software won a 2007 Best in KLAS award from vendor research firm KLAS Enterprises, Orem, Utah. The company had sales of $84 million in 2009.
The acquisition will expand Lexington, Ky.-based Lexmark's market by adding enterprise content management services, and will give Perceptive Software growth opportunities through Lexmark's global sales network, according to the vendors. Lexmark had approximately $4 billion in revenue during 2009.
Scott Coons, president and CEO at Perceptive Software, will retain those titles and also serve as a Lexmark vice president, reporting to Paul Curlander, chair and CEO. Perceptive Software will continue to operate under its current name. Lexmark expects the acquisition to close in the second quarter and to add to earnings in 2011.
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