Tuesday, March 24, 2015

Kofax Acquired By Lexmark For $1 Billion

Irvine-based Kofax, the developer of document processing software and and other products, is being acquired by printer maker Lexmark, in a deal worth approximately $1 billion, the two said late Tuesday. According to Lexmark, the company will pay $11.00 per share in cash for Kofax. Lexmark said the acquisition will nearly double the size of its enterprise software business, growing that to approximately $700M. Kofax had 2014 revenues of $297 million. Kofax was advised by Lazard in the deal, with Lexmark advised by Goldman, Sachs and Co.