Lexmark International Inc. has announced it is going ahead with the proposed acquisition of Netherlands headquartered Pallas Athena, according to new reports.
The financial aspects of the deal has been confirmed as a cash-only transaction of about $50.2 million. With this acquisition, Pallas Athena is going to be an integral part of Lexmark’s Perceptive Software business wing.
Lexmark happens to be a leading name in the computer hardware industry, whereas Pallas Athena is known for serving areas such as managed print services, process mining software, document output management and business process management. The company has regional offices in the Caribbean, Germany, Belgium, the US and the UK.
This latest acquisition allows Lexmark to extend its software services to a number of new markets around the world.
According to the agreement reached upon both the companies, Palla Athena’s existing chief executive officer John Hoogland will continue to serve the company, and will directly report to Scott Coons - the CEO and president of Kansas-based Perceptive Software. The market value of Lexmark International in terms of revenue, stands at around $4 billion.