Private equity firm Thoma Bravo, the owner of content management software developer Hyland Software, has inked a definitive agreement to acquire Lexmark International's enterprise software division, including its image management assets.
Upon closure of the deal, the division's Perceptive Software business will then be sold to Hyland Software. Perceptive Software comprises Perceptive Intelligent Capture, Acuo VNA, PACSGear, and enterprise medical image viewing offerings. Lexmark had been actively adding to its imaging and healthcare IT offerings in recent years by buying Claron Technology in January 2015, PACSGear and Acuo Technologies in 2013, and Perceptive Software in 2010.
The other two primary Lexmark software businesses included in the acquisition -- Kofax and ReadSoft -- will combine to create an independent Thoma Bravo portfolio company under the Kofax brand. It will be led by Reynolds Bish, the current president of Lexmark Enterprise Software.
Thoma Bravo was rumored to be one of two private equity firms in contention to buy Lexmark's software division in early 2016. Later that year, the entire Lexmark International business, including the enterprise software business, was acquired by a consortium of Asian investors including Apex Technology and PAG Asia Capital.
Thoma Bravo and Lexmark did not disclose the terms of the new deal, which is subject to the usual and customary closing conditions and regulatory approvals. The transaction is expected to be completed in the third quarter.
