Lexmark International has agreed to buy Kofax for a value of $1 billion. Lexmark said that Kofax and Lenexa-based Perceptive Software will combine into an enterprise software segment.
Kofax, with a 2014 revenue of $297 million, provides software to capture, process and analyze data to 20.000 customers worldwide. Its biggest customers include General Motors Corp., Ford Motor Co., Humana, UnitedHealthcare and Metlife.
Kofax and Perceptive have complementary products. According to Lexmark, the combination will provide cost savings of at least $40 million, and opportunities to increase revenue through product improvements and cross-selling.
Lexmark typically has run newly acquired companies separately for a while until it can look more closely at how to integrate them with existing units. Perceptive CEO Scott Coons reiterated that it takes some time to look at the products and people of a newly acquired company. So, for the next 12-24 months we probably won’t see major developments. Lexmark is currently in the midst of the integration of ReadSoft, an acquisition closed in August 2014.
