Lexmark announces definitive agreement to acquire Perceptive Software

May 27, 2010

LEXINGTON, Ky. and SHAWNEE, Kan., May 21, 2010 /PRNewswire via COMTEX/ — Lexmark International and Perceptive Software (www.perceptivesoftware.com) today announced a definitive agreement for Lexmark to acquire Perceptive Software in a cash transaction valued at approximately $280 million.

Perceptive Software is a leading provider of ECM software and solutions, with significant industry experience in the higher education, healthcare and government segments. Perceptive Software is one of the fastest growing ECM providers in the market, and its ImageNow software platform enables a broad range of industry-specific and cross-industry work flow solutions.

Perceptive Software is headquartered in Shawnee, Kan., and generated about $84 million in fiscal year 2009 sales, principally in the U.S. Through the acquisition of Perceptive Software, Lexmark adds a complementary, fast growing software business that is aligned with its existing industry-focused value proposition. This acquisition enables Lexmark to immediately participate in the adjacent, growing market segment of ECM software solutions. It also provides additional, growing revenue streams in software maintenance and professional services that are not paper-usage dependent.

Lexmark expects the transaction to be accretive to 2011 non-GAAP earnings. The transaction is anticipated to close in the second quarter of 2010.

Upon closing, Perceptive Software will retain its current name and operate as a stand-alone software business within Lexmark. The acquisition of Perceptive Software is subject to customary closing conditions and receipt of clearance under the Hart-Scott-Rodino Antitrust Improvements Act.

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