Lexmark

Lexmark International, Inc. is a privately held American company that manufactures laser printers and imaging products. The company is headquartered in Lexington, Kentucky. Since 2016 it has been jointly owned by a consortium of three multinational companies: Apex Technology, PAG Asia Capital, and Legend Capital. Lexmark was formed on March 27, 1991 when investment firm Clayton & Dubilier completed a leveraged buyout of IBM Information Products Corporation, the printer, typewriter, and keyboard operations of IBM. Lexmark became a publicly traded company on the New York Stock Exchange on November 15, 1995. By 2016, the company struggled to keep corporate clients that are cutting costs and the consumers who are shifting to mobile devices from personal computers. It was reported in April 2016 that Lexmark would be acquired by Apex Technology and PAG Asia Capital for US$3.6 billion. Lexmark was set to be acquired at$40.50 per share in the transaction. Initial talks for the acquisition were begun at the Remax World Expo in 2015. The deal was closed on November 29, 2016. Lexmark stated that its headquarters would remain in Lexington, and that its enterprise software line of business would be spun off and "rebranded" to Kofax. As part of the sale, the Perceptive Business Unit portion of Lexmark's Enterprise Software Services division (e.g. their non-Kofax branded document management products) was sold to the Thoma Bravo management group who agreed to in-turn sell the Perceptive Business Unit to the Hyland Corporation. The Kofax branded applications remained as part of Lexmark, but other document management systems like Perceptive Content and NolijWeb and products like Intelligent Capture (formerly "Brainware") and Enterprise Search (formerly "ISYS") were absorbed by Hyland. The firm's corporate headquarters is located in Lexington and R&D offices are distributed globally with additional R&D facilities located in Boulder, Colorado, US; Lenexa, Kansas, US; Cebu, Philippines; Kolkata, West Bengal, India; Berlin, Germany; Stockholm, Sweden and Irvine, California, US.