Monday 8th May, 2017
Thoma Bravo a leading private equity firm has entered into an agreement to acquire Lexmark’s Enterprise Software business which is made up of Kofax, ReadSoft and Perceptive Software.
Upon closing of the transaction, the Perceptive Software business including Perceptive Intelligent Capture, Acuo VNA, PACSGEAR and Enterprise Medical Image Viewing will be sold to Hyland Software, an existing Thoma Bravo portfolio company and a leading provider of enterprise content management software led by President and CEO Bill Priemer.
Kofax and ReadSoft businesses will create a single, newly independent Thoma Bravo portfolio company under the Kofax brand, and will be led by Reynolds C. Bish, current president of Lexmark Enterprise Software.
“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.”
“We have long admired the people and technology of Perceptive Software and are thrilled to welcome them into the Hyland family,” said Priemer. “The combination of our content services portfolios will provide tremendous benefit to our current and future customers and partners.”
“Thoma Bravo has an incredible track record of success building and growing software companies,” said Bish. “Their unparalleled industry expertise and operational excellence make them the ideal partner for this new venture.”
The closing of the transaction is expected to occur in the third quarter of 2017.