Wednesday 25th March, 2015

Printer maker Lexmark International is set to buy business process management company, Kofax for an enterprise value of about $1 billion.

Lexmark said the deal will double the size of its enterprise software business.

The Kofax deal will help the company's Perceptive Software business achieve its revenue target of $500 million in 2016, Lexmark said.

Aiming to take the lead in the content and process management software vertical, Lexmark plans to integrate Kofax's smart process applications with its Perceptive Intelligent Capture technology.

The deal is expected to close in the second quarter of 2015.