Lexmark Acquires Pallas Athena19 Oct, 2011
Lexington, KY - October 18, 2011 - Lexmark International, Inc. today announced the acquisition of Netherlands-based Pallas Athena 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, a stand-alone business unit within Lexmark.
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.
Pallas Athena is a leading provider of BPM, DOM and process mining software, with significant industry experience in the insurance, government and life sciences segments. Pallas Athena's software products enable a broad range of BPM capabilities, which includes dynamic case management and customer communications management. Key differentiators of its software products include ease of implementation and an intuitive user interface.
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.
Lexmark will provide further details and information regarding the Pallas Athena acquisition when the company announces its financial results for the third quarter of 2011. Until that date, Lexmark will have no further comment. At www.lexmark.com