Hyland to Acquire the Perceptive Portfolio

Thoma Bravo, a private equity firm that manages Hyland Software, is acquiring Lexmark's Enterprise Software business, which is made up of three primary businesses: Kofax, ReadSoft, and Perceptive Software.

The closing of the transaction is subject to usual and customary closing conditions and regulatory approvals, and is expected to occur in the third quarter of 2017. Apex Technology Co Ltd, PAG Asia Capital and Legend Capital Management Co, LTD, which acquired Lexmark in November of 2016, support the sale of the Enterprise Software business.

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, Inc., an existing Thoma Bravo portfolio company and provider of enterprise content management software led by president and CEO Bill Priemer.

The 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.

“As we look to the future, I’m confident that Hyland will be incredibly well positioned to continue to do the important work of digitally transforming businesses across the globe,” said Bill Priemer, president and CEO of Hyland. "When I think about the opportunities to extend our current solutions, I’m particularly enthusiastic about the possibilities in clinical healthcare and higher education."

Financing for the transaction is being provided by Credit Suisse, Goldman, Sachs & Co. and UBS Investment Bank.

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