Lexmark wants to get deeper into the lucrative enterprise content management (ECM) space so, last night, it announced a merger with Kofax.
Under the terms of the merger agreement, Lexmark will acquire all of the outstanding shares of Kofax for $11 a share in cash for a total enterprise value of approximately $1 billion, net of cash acquired.
Once the deal is complete, Lexmark’s enterprise content and process management business will be worth approximately $700 million and a formidable force in the growing $10 billion content and process management software market.
Kofax, which provides content, analytics, mobile and process management systems, also automates things like mailrooms and invoices. It serves the financial, healthcare, government and insurance industries.