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Lexmark Announces Definitive Agreement to Acquire Perceptive Software - Perceptive Software will operate as a stand-alone software business within Lexmark (NYSE: LXK)
Lexmark Announces Definitive Agreement to Acquire Perceptive Software

 

NewswireToday - /newswire/ - Lexington, KY, United States, 2010/05/21 - Perceptive Software will operate as a stand-alone software business within Lexmark (NYSE: LXK). NYSE: LXK

   
 
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Lexmark International, Inc. and Perceptive Software today announced a definitive agreement for Lexmark to acquire Perceptive Software in a cash transaction valued at approximately $280 million.

Perceptive Software is a leading provider of ECM software and solutions, with significant industry experience in the higher education, healthcare and government segments. Perceptive Software is one of the fastest growing ECM providers in the market, and its ImageNow® software platform enables a broad range of industry-specific and cross-industry workflow solutions. A key strength and differentiator of its ECM software platform is the ability to be quickly and easily configured, and integrated with a large number of ERP, CRM and line-of-business applications.

"Lexmark has been a leader in industry-focused, paper-based workflow solutions for more than 10 years," said Paul J. Curlander, Lexmark’s chairman and chief executive officer. "The acquisition of Perceptive Software builds upon and strengthens our current industry workflow solutions, and broadens the portfolio of offerings to our current customers including our managed print services customers.”

Perceptive Software is headquartered in Shawnee, Kan., and generated about $84 million in fiscal year 2009 sales, principally in the U.S. Through the acquisition of Perceptive Software, Lexmark adds a complementary, fast growing software business that is aligned with its existing industry-focused value proposition. This acquisition enables Lexmark to immediately participate in the adjacent, growing market segment of ECM software solutions. It also provides additional, growing revenue streams in software maintenance and professional services that are not paper usage dependent.

“We believe that the combination of our two companies will drive significant growth in Perceptive Software’s software business," said Scott Coons, Perceptive Software's president and chief executive officer. "We look forward to accelerating our growth within Lexmark, benefiting from Lexmark’s global footprint and broad reach with enterprise customers."

“This added software platform provides a core component of Lexmark’s strategy to deliver industry-focused document workflow solutions, software and services that lower our customers’ costs and significantly improve their productivity,” Curlander added.

Lexmark expects the transaction to be accretive to 2011 non-GAAP earnings. The transaction is anticipated to close in the second quarter of 2010.

Upon closing, Perceptive Software will retain its current name and operate as a stand-alone software business within Lexmark. Coons will become a Lexmark vice president and will continue as Perceptive Software’s president and chief executive officer, reporting to Curlander. The acquisition of Perceptive Software is subject to customary closing conditions and receipt of clearance under the Hart-Scott-Rodino Antitrust Improvements Act.

Conference Call Today
Lexmark will be hosting a conference call with securities analysts today at 10:30 a.m. EDT. A live broadcast and a complete replay of this call can be accessed from Lexmark’s investor relations Website at investor.lexmark.com. If you are unable to connect to the Internet, you can access the call via telephone at 888-693-3477 (outside the U.S. by calling 973-582-2710) using access code 76750385.

Supplemental information slides will be available on Lexmark’s investor relations Web site prior to the live broadcast.

For more information, see the "Lexmark" Facebook page, the "LexmarkNews" Twitter feed, or the "LexmarkNews" YouTube channel.

About Lexmark
Lexmark International, Inc. (lexmark.com) provides businesses of all sizes with a broad range of printing and imaging products, solutions and services that help them to be more productive. In 2009, Lexmark sold products in more than 150 countries and reported approximately $4 billion in revenue.

About Perceptive Software
Since 1995 Perceptive Software (perceptivesoftware.com) has built enterprise content management software, including ImageNow®, to help organizations effortlessly manage the entire lifecycle of their documents and content, fueling greater operational efficiency. Organizations rely on Perceptive Software to simplify their business processes through cost-effective ECM solutions that create immediate and lasting impact.

 
 
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Written by / Agency / Source: Perceptive Software, Inc.

 
 

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Lexmark Announces Definitive Agreement to Acquire Perceptive Software

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Publisher Contact: Jerry Grasso - Lexmark.com 
859-232-3546 ggrasso[.]lexmark.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Perceptive Software, Inc. securities in any jurisdiction including any other companies listed or named in this release.

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