Thomas Bravo / Hyland buys Readsoft, Kofax, Perceptive Software from Lexmark

Last year we reported that Chinese Apex Technology agreed to acquire Lexmark for approximately US$4 billion in cash. Why? Well, because over the past few years, Lexmark has sought to diversify and aggressively bought up software assets to bulk up its services catering to business customers. Like other printer makers, Lexmark has struggled to adjust as its corporate clients cut costs and consumers shift to mobile devices from personal computers. Even buying Kofax and Readsoft didn’t help.

To put things in perspective, Lexmark bought Kofax in 2015 for a staggering $1 billion. And in 2014 it bought Readsoft for $254 million. In 2013 it bought Saperion for $280 million. In 2012 it bought Brainware for $154 million. In 2010 it bought Perceptive Software for $280 million. And now Lexmark is said to have a $2 billion market capitalization.

More specifically regarding this buyout, the enterprise content management (ECM/EDM) from Lexmark, which includes Kofax and ReadSoft as well as Perceptive Software – has been sold to Thoma Bravo, a major US private equity firm which already owns Hyland.

Kofax and ReadSoft will unite to create a single, independent company under the Kofax brand. The Perceptive Software business will become part of Hyland.

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