Lexington, KY - Lexmark has acquired Netherlands-based Pallas Athena for approximately $50.2 million, in a cash transaction. Once the acquisition is final, the company will become a part of Perceptive Software, a stand-alone business unit within Lexmark.
Pallas Athena is a provider of Business Process Management (BPM), Document Object Model (DOM) and process mining software with industry experience in the insurance, government and life sciences segments.
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.
Lexmark in a release said the rapidly growing BPM software market is closely adjacent to Perceptive Software's existing enterprise content management (ECM) market. By bringing these closely aligned technologies together, Lexmark will further strengthen its industry-leading fleet management solutions and services with a broader range of workflow solutions that are more functional, and easier to implement and use than existing tools available in the market today.
Lexmark's acquisition of Pallas Athena will enable Perceptive Software to expand its presence in the Europe, Middle East and Africa (EMEA) region, while concurrently leveraging the company's growing worldwide sales force to sell these software solutions globally.
Along with its Apeldoorn, Netherlands, location, Pallas Athena has regional offices in the U.S., U.K., Germany, Belgium and the Caribbean.
Lexmark will offer more details of the acquisition during its quarterly earnings report presentation scheduled for Tuesday Oct. 25.