| April 25
April 25 Hyland Software Inc, a U.S. business
software company owned by buyout firm Thoma Bravo LLC, is
nearing a deal to acquire the software division of printer maker
Lexmark International Inc for nearly $1.5 billion, according to
people familiar with the matter.
The deal would bring Lexmark's owners, China's Apex
Technology Co Ltd and PAG Asia Capital, closer to
their goal of shedding non-core units to expand the company's
imaging business in Asia. They acquired Lexmark for $3.6 billion
Hyland Software has outbid private equity firms in an
auction for Lexmark's enterprise software group, known as Kofax,
and may reach a deal as early as next week, the sources said
this week. Negotiations could still end unsuccessfully, they
The sources requested anonymity because the negotiations are
confidential. Thoma Bravo and Hyland Software declined to
comment, while Lexmark did not respond to a request for comment.
Enterprise software businesses, which have a steady stream
of subscription revenue, have become a favorite of private
equity firms in recent years. Thoma Bravo also invested recently
in cybersecurity company McAfee.
Hyland's OnBase software helps businesses store and manage
content and documents and competes with Lexmark's products,
according to Forrester Research.
Based in Lexington, Kentucky, Lexmark acquired Kofax, which
had been a publicly listed company, in 2015 for $1 billion.
(Reporting by Liana B. Baker in San Francisco and Greg
Roumeliotis in New York; Editing by Lisa Von Ahn)