Lexington-based Lexmark International announced Monday it has acquired a technology company that specializes in extracting data from documents. It's the third such technology acquisition since mid-2010 for the printer company, which has been expanding into more computer software and services.
Lexmark paid $148 million for Luxembourg-based BDGB Enterprise and its U.S. subsidiary Brainware.
Brainware's data-capturing software Brainware Distiller makes its possible to accurately pull critical information from paper and electronic documents and send it to other data management systems.
For instance, the Mayo Clinic uses the company's technology to read invoices and send them along to other software systems for further processing. The software "can read a document like an invoice just like you or me could," said Charles Kaplan, Brainware's vice president of marketing. And it makes the processing of invoices quicker and more accurate, he added.
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In announcing the deal, Lexmark CEO Paul Rooke noted Brainware's technology "will be attractive to our customers across the globe."
Lexmark's first recent technology acquisition came in mid-2010 with the purchase of Perceptive Software. Perceptive's technology takes information in any number of ways — a scanned document, perhaps, or a typed-in form — and makes it accessible in a company's workflow.
Late last year, Lexmark also acquired Pallas Athena, which specializes in what's called business process management. Pallas Athena's software interfaces with other databases to make workflow easier.