Lexmark acquires Dutch Pallas Athena
Lexmark International (Lexington, KY, USA) has announced the acquisition of Pallas Athena (Apeldoorn, The Netherlands) in a cash transaction, valued at approximately $50.2 million. Upon completion of the transaction, the Dutch company will become a part of Perceptive Software (Shawnee, KS, USA), a stand-alone business unit within Lexmark.
The Acquisition builds upon and strengthens Lexmark’s end-to-end managed print services (MPS) and business process solutions with addition of business process management (BPM), document output management (DOM) and process mining software capabilities as well as broadens Lexmark’s access to adjacent, high growth global BPM software market.
The rapidly growing BPM software market is closely adjacent to Perceptive Software’s existing enterprise content management (ECM) market. By bringing these closely aligned technologies together, Lexmark will further strengthen its industry-leading fleet management solutions and services with a broader range of workflow solutions that are more functional, and easier to implement and use than existing tools available in the market today.
Lexmark’s acquisition of Pallas Athena will enable Perceptive Software to expand its EMEA region presence, while concurrently leveraging the company’s growing worldwide sales force to sell these software solutions globally. Along with its Apeldoorn, Netherlands, location, Pallas Athena has regional offices in the U.S., U.K., Germany, Belgium and the Caribbean.
Pallas Athena’s chairman and chief executive officer, John Hoogland, will report directly to Scott Coons, Perceptive Software’s president and chief executive officer and Lexmark vice president.
“This investment in the BPM market demonstrates Lexmark’s continued focus on strategic acquisitions of technologies that strengthen our unique portfolio of leading end- to-end fleet management and business process solutions,” said Paul Rooke, Lexmark’s chairman and chief executive officer. “We expect this to be attractive to our global enterprise customers and help expand our MPS offering and Perceptive Software.”
Source: Lexmark International