Printer maker Lexmark International Inc said it would purchase customer management software maker Kofax Ltd for an enterprise value of about $1 billion. The $11 per share cash offer represents a premium of 46.7 percent to Kofax's Tuesday close of $7.50.
Lexmark International Inc. serves both the distributed printing and imaging, and content and process management markets with a focus on business customers. Shares of LXK fell by 1.81% or $-0.75/share to $40.79. In the past year, the shares have traded as low as $37.18 and as high as $51.77. On average, 912765 shares of LXK exchange hands on a given day and today's volume is recorded at 778213.