Investment Group Acquires Lexmark
February 15, 2017
We read with some trepidation the Kansas City Business Journal’s article, “Former Perceptive’s Parent Gets Acquired for $3.6B in Cash.” The parent company referred to here is Lexmark, which bought up one of our favorite search systems, ISYS Search, in 2012 and placed it under its Perceptive subsidiary, based in Lenexa, Kentucky. We do hope this valuable tool is not lost in the shuffle.
Reporter Dora Grote specifies:
A few months after announcing that it was exploring ‘strategic alternatives,’ Lexmark International Inc. has agreed to be acquired by a consortium of investors led by Apex Technology Co. Ltd. and PAG Asia Capital for $3.6 billion cash, or $40.50 a share. Legend Capital Management Co. Ltd. is also a member of the consortium.
Lexmark Enterprise Software in Lenexa, formerly known as Perceptive Software, is expected to ‘continue unaffected and benefit strategically and financially from the transaction’ the company wrote in a release. The Lenexa operation — which makes enterprise content management software that helps digitize paper records — dropped the Perceptive Software name for the parent’s brand in 2014. Lexmark, which acquired Perceptive for $280 million in cash in 2010, is a $3.7 billion global technology company.
If the Lexmark Enterprise Software (formerly known as Perceptive) division will be unaffected, it seems they will be the lucky ones. Grote notes that Lexmark has announced that more than a thousand jobs are to be cut amid restructuring. She also observes that the company’s buildings in Lenexa have considerable space up for rent. Lexmark CEO Paul Rooke is expected to keep his job, and headquarters should remain in Lexington, Kentucky.
Cynthia Murrell, February 15, 2017
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