Thoma Bravo acquires Lexmark’s Enterprise Software Business
Private equity firm Thoma Bravo has recently announced entering into a definitive agreement with Lexmark International Inc. to purchase Lexmark’s Enterprise Software business which consists of three primary businesses: Kofax, ReadSoft and Perceptive Software. The deal is expected to close in the third quarter of 2017. The firm then plans to sell its Perceptive unit including Perceptive Intelligent Capture, Acuo VNA, PACSGEAR and Enterprise Medical Image Viewing, to Westlake Ohio based Hyland Software. Terms of the deal were not disclosed. Kofax and ReadSoft will become a new Thoma Bravo company under the Kofax name which will be run by Reynolds Bish, the current President of Lexmark’s enterprise software division.
Thoma Bravo expects to gain some of the most advanced digital transformation technologies in the industry while being highly complementary to Hyland. In March 2017, Fortune recognized Hyland as one of the 100 Best Companies to Work For, for the fourth consecutive year. It was the only Northeast Ohio-based company on the list.