Lexington-based printer maker Lexmark International has acquired Netherlands software company Pallas Athena in a cash transaction, valued at about $50.2 million.
When the transaction is made final, the Dutch company will become a part of Perceptive Software, a stand-alone unit within Lexmark.
Pallas Athena's chairman and CEO, John Hoogland, will report directly to Scott Coons, Perceptive Software's president and CEO and a Lexmark vice president, the company said in a news release Tuesday.
Pallas Athena is a leading provider of what is known as business-process-management software, document-output-management software and process-mining software, with significant industry experience in insurance, government and life sciences.
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The rapidly growing BPM-software market is closely related to Perceptive Software's enterprise-content-management market, Lexmark said.
Along with its location in Apeldoorn, Netherlands, Pallas Athena has offices in the United States, United Kingdom, Germany, Belgium and the Caribbean.
Lexmark plans to announce its third-quarter earnings Oct. 25.