Lexmark will acquire Kofax, a California-based customer information software company, for $1 billion, it announced Wednesday.
Kofax, with more than 20,000 customers worldwide, had revenue of $297 million in 2014, according to a Lexmark news release stated.
The acquisition is the latest Lexmark purchase since 2010, when the Lexington-based company became more focused on providing end-to-end business solutions rather than just printers.
Kofax, founded in 1985, markets processes that allow customers to capture, manage, access and act on information.
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The board of directors of Kofax voted unanimously in favor of the acquisition. When completed, the acquisition will double the size of Lexmark's enterprise software business.
Scott Coons, president of Lexmark's Perceptive Software unit and Lexmark vice president, said the acquisition gives the company "an unmatched ability to help customers of all sizes, in all industries and across the globe to connect unstructured information to their systems of record."
Other recent Lexmark acquisitions include Twistage, a San Francisco company with a pure cloud software platform for managing video, audio and image content; ISYS software, now called Perceptive Search, an Australia-based company that allows companies to locate information inside every document, file and email; and Pallas Athena, a Netherlands-based company with expertise in business process software in the insurance, government and life sciences segments; Claron Technology, a medical imaging software company; and ReadSoft, a document management software company.