Lexmark Enters Agreement to Acquire California-Based Kofax for $1 Billion
Lexmark will acquire Kofax, a California-based customer information software company, for $1 billion, it announced Wednesday.
Kofax, with more than 20,000 customers worldwide, had revenue of $297 million in 2014, according to a Lexmark news release stated.
The acquisition is the latest Lexmark purchase since 2010, when the Lexington-based company became more focused on providing end-to-end business solutions rather than just printers.
Kofax, founded in 1985, markets processes that allow customers to capture, manage, access and act on information.
The board of directors of Kofax voted unanimously in favor of the acquisition. When completed, the acquisition will double the size of Lexmark's enterprise software business.