Lexmark Closes Kofax Acquisition

(RTTNews) - Printer maker and enterprise services provider Lexmark International Inc (LXK) on Thursday said it has closed the acquisition of software company Kofax Ltd. Lexmark acquired Kofax in a cash transaction for $11.00 per share, for a total enterprise value of about $1 billion.

The deal would nearly double the size of Lexmark's Enterprise Software annualized revenue to about $700 million.

Lexmark also said that Scott Coons, president of Lexmark's Enterprise Software, has decided to retire, effective at the end of July.

Effective immediately, Reynolds Bish, CEO of Kofax, succeeds Coons as president of Lexmark's Enterprise Software. Bish will also be a Lexmark vice president and report directly to Paul Rooke, Lexmark chairman and chief executive officer. Supporting Quotes