Westlake-based Hyland is expanding its global footprint again in the digital transformation global market (Timothy Greathouse)
WESTLAKE, Ohio – Private equity firm Thoma Bravo today announced entering into a definitive agreement with Lexmark International Inc., a global imaging leader. After the deal closes in the third quarter of 2017, the firm plans to sell its Perceptive unit to Westlake-based Hyland Software.
Terms of the deal were not disclosed.
Lexmark’s Enterprise Software business consists of three primary businesses: Kofax, ReadSoft and Perceptive Software. After the transaction closes, the Perceptive Software business, including Perceptive Intelligent Capture, Acuo VNA, PACSGEAR and Enterprise Medical Image Viewing will be sold to Hyland Software, Inc., an existing Thoma Bravo portfolio company.
Bill Priemer, Hyland’s president and CEO, published an open letter to Hyland and Perceptive’s customers and partners. Hyland is a provider of enterprise content management software.
“If you’re a Hyland customer or partner, these are exciting times as we expand our portfolio of solutions, and we’re thankful for your business,” he said in the letter.
“As we look to the future, I’m confident that Hyland will be incredibly well positioned to continue to do the important work of digitally transforming businesses across the globe. When I think about the opportunities to extend our current solutions, I’m particularly enthusiastic about the possibilities in clinical healthcare and higher education.”
Seth Boro, a managing partner at Thoma Bravo, said the Lexmark acquisition will be a huge boost for the company because they’ll be gaining some of the most advanced digital transformation technologies in the industry.
“The Perceptive Software business is highly complementary to Hyland, providing innovative technologies and vertical expertise,” Boro, said in a written statement.
In March, Fortune recognized Hyland as one of the 100 Best Companies to Work For, for the fourth consecutive year. It was the only Northeast Ohio-based company on the list.
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