In a press release last week, Lexmark Enterprise Software President Reynolds C. Bish announced the pending sale of Lexmark's Enterprise Software division to Thoma Bravo, a leading private equity firm that specializes in the software and technology-enabled service sectors. The sale includes all three subcompanies within Lexmark's Enterprise Software division: Kofax, ReadSoft, and Perceptive Software, the latter of which will be sold to Hyland, another Thoma Bravo portfolio company upon closing of the sale. That additional sale affects the Perceptive Intelligent Capture, Acuo VNA, PACSGEAR and Enterprise Medical Image Viewing product lines.
“We’re incredibly excited to be acquiring the Lexmark Enterprise Software business as it contains some of the most advanced digital transformation technologies in the industry. The Perceptive Software business is highly complementary to Hyland, providing innovative technologies and vertical expertise,” said Seth Boro, a managing partner at Thoma Bravo. “We’re equally thrilled to partner with Reynolds and his management team under the Kofax brand as a new Thoma Bravo portfolio company. Their vision to digitally transform and simplify initial customer interactions with businesses, or what they term the “First Mile”, represents an exciting opportunity across all industries.”
Once the sale closes later this year, Kofax and ReadSoft will be partnered into a new independent company under the Kofax brand, but within the Thoma Bravo portfolio. Reynolds C. Bish will assume the role as president over those companies.
The transaction will follow all customary transfer procedures, closing conditions, and regulatory approvals. Financing for the transaction is being provided by Credit Suisse, Goldman, Sachs & Co. and UBS Investment Bank.
Click here to read the press release.