Hyland to Buy Lexmark’s Software Unit

The following appears on Reuters.com

By Liana B. Baker and Greg Roumeliotis – 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 (002180.SZ) 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 last November.

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 added.


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