Lexmark Buys Netherlands Company in $50.2M Transaction

By wmadministrator

Lexmark International Inc. has acquired Netherlands-based Pallas Athena in a cash transaction valued at more than $50 million.

Pallas Athena is a leading provider of BPM (business process management), DOM (document object model) and process mining software and also has significant industry experience in the insurance, government and life sciences segments.

Upon completion of the transaction, the Dutch company will become a part of Perceptive Software, a stand-alone business unit within Lexmark that is a leading provider of enterprise content management software (ECM). ECM software helps organizations manage the entire lifecycle of their documents and content to create great operational efficiency.

In announcing the acquisition, Lexington-based Lexmark said the rapidly growing BPM software market is closely adjacent to Perceptive Software’s existing ECM market. By bringing the two technologies together, Lexmark is positioned to strengthen its 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.

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.

Along with its Apeldoorn, Netherlands, location, Pallas Athena has regional offices in the United States, the United Kingdom, Germany, Belgium and the Caribbean.

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