Lexmark International, Inc. (NYSE: LXK) is an American corporation which develops and manufactures printing and imaging products, including laser and inkjet printers, multifunction products, printing supplies, and services for business and individual consumers. The company is headquartered in Lexington, Kentucky.
Lexmark International, Inc. (NYSE: LXK) and Shawnee-based Perceptive Software today announced a definitive agreement for Lexmark to acquire Perceptive in a cash transaction valued at approximately $280 million.
Company officials said that Perceptive will retain its name and its headquarters will remain in Shawnee. Kentucky-based Lexmark’s goal is to drive revenue for Perceptive, according to Paul J. Curlander, Lexmark’s chairman and CEO, by helping provide significant global expansion opportunities in western Europe and India.
“We have everything that’s needed to start to sell quickly,” Curlander said in a conference call with securities analysts available on the Lexmark website. “So we’re going to leverage all of that to drive Perceptive sales.”
Perceptive, 22701 W. 68th Terrace, was founded in 1988 and moved to Shawnee in 1999, oopening international offices in the United Kingdom, Singapore and Australia in 2008. It is a leading provider of Enterprise Content Management, or ECM, software and solutions, and its ImageNow software platform enables a broad range of industry-specific and cross-industry workflow solutions.
Lexmark provides a broad range of printing and imaging products, solutions and services. In 2009, Lexmark sold products in more than 150 countries and reported approximately $4 billion in revenue.
Perceptive generated about $84 million in fiscal year 2009 sales, principally in the U.S.
Through the acquisition of Perceptive Software, Lexmark reported it adds a complementary, fast growing software business that is aligned with its existing industry-focused value proposition.
This is the first large company purchase Lexmark has made in the last few years, and Curlander said the company has been looking to add a software component for some time.
“This was the first time we’ve come across something that looked like a very good fit for us,” he said.
Part of the attraction to Perceptive was the key strength and differentiator of Perceptive’s ECM software platform: the ability to be quickly and easily configured, and integrated with a large number of other applications. Curlander noted that with ECM software produced by other, larger companies, it is often hard to do quick implementation and is more expensive.
Curlander said while Perceptive already had plans to expand internationally and expand its research and development, Lexmark would help it do so with lower costs.
“We believe that the combination of our two companies will drive significant growth in Perceptive Software’s software business,” Scott Coons, Perceptive Software's president and CEO, said in a release. “We look forward to accelerating our growth within Lexmark, benefiting from Lexmark’s global footprint and broad reach with enterprise customers.”
Lexmark has announced it will retain the core management of Perceptive Software, and Curlander said the company wants to ensure it retains the core talent of Perceptive, though details on employee retention would be forthcoming.
The transaction is anticipated to close in the second quarter of 2010. Upon closing, Perceptive Software will retain its current name and operate as a stand-alone software business within Lexmark. Coons will become a Lexmark vice president and will continue as Perceptive Software’s president and chief executive officer, reporting to Curlander.
Curlander said the lack of complete integration has to do with the different aspects of the businesses.
“We think it’s very important to run the software company separate from the hardware company,” he said. “Software companies to be successful need to interact with a broad range of customers and a broad range of people who we may not normally interact with on the hardware side.”
The acquisition of Perceptive Software is subject to customary closing conditions and receipt of clearance under the Hart-Scott-Rodino Antitrust Improvements Act.
The Challenge
Like any hospital, the delivery of top-quality medical care is one
critical aspect of its overall operation. But, without cleanliness, no
hospital can survive. At UK Medical Center, the mission of maintaining
a healthful medical atmosphere falls to the environmental services
department, which employs a small army of 130 professionals. These
employees make sure each patient room is cleaned properly and
thoroughly and ensure that the facility itself meets rigorous cleaning
standards.
For Griff Thomas, the hospital’s Environmental Services Director,
scheduling the diverse staff, keeping accurate records, standardizing
performance, training new and existing employees, and
communicating with other departments all require significant amounts
of documentation.
Safety is at the heart of just about all of Thomas' communication and
printed materials. And, because of that, information retention is
imperative. Unfortunately, some of his important messages were not
getting through.
Employee retention was challenging in this fast-paced environment.
Some procedures weren't being followed properly. Nurses were
having a hard time using the computer discharge notification system
when patients were discharged. Employees were misinterpreting work
schedules and not arriving at the right times.
Thomas knew he needed to change his communications approach to
make improvements in these metrics. For a solution, he turned to
Lexmark.
Lexmark offers competitive compensation and a comprehensive benefits package. In addition to a medical plan, we offer dental insurance, a vision plan, life insurance and disability coverage. We also have an employee pension plan with a generous company match.
That’s not all - you may be eligible to earn an annual reward through our Lexmark Incentive Plan. One of our benefits gives employees up to three paid days off each year for volunteer service. You can even get discounts on Lexmark printers and related supplies, as well as employee partner pricing on some of Canada's top brands.
Best of all, you’ll find at Lexmark an environment that encourages personal and professional growth. It is our mission to provide all employees with the tools and resources they need to identify new challenges and chart their course for the future.
At Lexmark, we know that our employees not only have careers, they have lives. We’ve implemented a myriad of programs to help them balance the two.
Lexmark has a generous vacation policy based on length of service and age. We offer flextime and part-time work schedules in some cases and unpaid leaves of absence for those employees who need time off for certain life events.
Our Richmond Hill head office, conveniently located in the Greater Toronto Area, has a variety of on-site services, such as a subsidized cafeteria, periodic health screenings and a yearly flu shot clinic. Our Social Committee LexClub sponsors recreational and social activities and conducts employee charitable contribution campaigns and blood drives.
We have an Employee Library, Lounge & Games Room and host several company social events throughout the year. Events such as our Children’s Holiday Season Party, Employees’ & Partners’ Holiday Party, Family Summer Picnic and Barbecue give employees and their families an opportunity to meet and socialize in fun, friendly environments.
Finally, because we encourage employees to give back to their communities, our Volunteer Time Off Program allows employees to take off work with pay for up to three days a year to volunteer with a qualifying organization.
Lexmark International, Inc. (NYSE: LXK) and Shawnee-based Perceptive Software today announced a definitive agreement for Lexmark to acquire Perceptive in a cash transaction valued at approximately $280 million.
Company officials said that Perceptive will retain its name and its headquarters will remain in Shawnee. Kentucky-based Lexmark’s goal is to drive revenue for Perceptive, according to Paul J. Curlander, Lexmark’s chairman and CEO, by helping provide significant global expansion opportunities in western Europe and India.
“We have everything that’s needed to start to sell quickly,” Curlander said in a conference call with securities analysts available on the Lexmark website. “So we’re going to leverage all of that to drive Perceptive sales.”
Perceptive, 22701 W. 68th Terrace, was founded in 1988 and moved to Shawnee in 1999, oopening international offices in the United Kingdom, Singapore and Australia in 2008. It is a leading provider of Enterprise Content Management, or ECM, software and solutions, and its ImageNow software platform enables a broad range of industry-specific and cross-industry workflow solutions.
Lexmark provides a broad range of printing and imaging products, solutions and services. In 2009, Lexmark sold products in more than 150 countries and reported approximately $4 billion in revenue.
Perceptive generated about $84 million in fiscal year 2009 sales, principally in the U.S.
Through the acquisition of Perceptive Software, Lexmark reported it adds a complementary, fast growing software business that is aligned with its existing industry-focused value proposition.
This is the first large company purchase Lexmark has made in the last few years, and Curlander said the company has been looking to add a software component for some time.
“This was the first time we’ve come across something that looked like a very good fit for us,” he said.
Part of the attraction to Perceptive was the key strength and differentiator of Perceptive’s ECM software platform: the ability to be quickly and easily configured, and integrated with a large number of other applications. Curlander noted that with ECM software produced by other, larger companies, it is often hard to do quick implementation and is more expensive.
Curlander said while Perceptive already had plans to expand internationally and expand its research and development, Lexmark would help it do so with lower costs.
“We believe that the combination of our two companies will drive significant growth in Perceptive Software’s software business,” Scott Coons, Perceptive Software's president and CEO, said in a release. “We look forward to accelerating our growth within Lexmark, benefiting from Lexmark’s global footprint and broad reach with enterprise customers.”
Lexmark has announced it will retain the core management of Perceptive Software, and Curlander said the company wants to ensure it retains the core talent of Perceptive, though details on employee retention would be forthcoming.
The transaction is anticipated to close in the second quarter of 2010. Upon closing, Perceptive Software will retain its current name and operate as a stand-alone software business within Lexmark. Coons will become a Lexmark vice president and will continue as Perceptive Software’s president and chief executive officer, reporting to Curlander.
Curlander said the lack of complete integration has to do with the different aspects of the businesses.
“We think it’s very important to run the software company separate from the hardware company,” he said. “Software companies to be successful need to interact with a broad range of customers and a broad range of people who we may not normally interact with on the hardware side.”
The acquisition of Perceptive Software is subject to customary closing conditions and receipt of clearance under the Hart-Scott-Rodino Antitrust Improvements Act.
The Challenge
Like any hospital, the delivery of top-quality medical care is one
critical aspect of its overall operation. But, without cleanliness, no
hospital can survive. At UK Medical Center, the mission of maintaining
a healthful medical atmosphere falls to the environmental services
department, which employs a small army of 130 professionals. These
employees make sure each patient room is cleaned properly and
thoroughly and ensure that the facility itself meets rigorous cleaning
standards.
For Griff Thomas, the hospital’s Environmental Services Director,
scheduling the diverse staff, keeping accurate records, standardizing
performance, training new and existing employees, and
communicating with other departments all require significant amounts
of documentation.
Safety is at the heart of just about all of Thomas' communication and
printed materials. And, because of that, information retention is
imperative. Unfortunately, some of his important messages were not
getting through.
Employee retention was challenging in this fast-paced environment.
Some procedures weren't being followed properly. Nurses were
having a hard time using the computer discharge notification system
when patients were discharged. Employees were misinterpreting work
schedules and not arriving at the right times.
Thomas knew he needed to change his communications approach to
make improvements in these metrics. For a solution, he turned to
Lexmark.
Lexmark offers competitive compensation and a comprehensive benefits package. In addition to a medical plan, we offer dental insurance, a vision plan, life insurance and disability coverage. We also have an employee pension plan with a generous company match.
That’s not all - you may be eligible to earn an annual reward through our Lexmark Incentive Plan. One of our benefits gives employees up to three paid days off each year for volunteer service. You can even get discounts on Lexmark printers and related supplies, as well as employee partner pricing on some of Canada's top brands.
Best of all, you’ll find at Lexmark an environment that encourages personal and professional growth. It is our mission to provide all employees with the tools and resources they need to identify new challenges and chart their course for the future.
At Lexmark, we know that our employees not only have careers, they have lives. We’ve implemented a myriad of programs to help them balance the two.
Lexmark has a generous vacation policy based on length of service and age. We offer flextime and part-time work schedules in some cases and unpaid leaves of absence for those employees who need time off for certain life events.
Our Richmond Hill head office, conveniently located in the Greater Toronto Area, has a variety of on-site services, such as a subsidized cafeteria, periodic health screenings and a yearly flu shot clinic. Our Social Committee LexClub sponsors recreational and social activities and conducts employee charitable contribution campaigns and blood drives.
We have an Employee Library, Lounge & Games Room and host several company social events throughout the year. Events such as our Children’s Holiday Season Party, Employees’ & Partners’ Holiday Party, Family Summer Picnic and Barbecue give employees and their families an opportunity to meet and socialize in fun, friendly environments.
Finally, because we encourage employees to give back to their communities, our Volunteer Time Off Program allows employees to take off work with pay for up to three days a year to volunteer with a qualifying organization.