Lexmark

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Lexmark International, Inc.
Public
Traded as NYSELXK
S&P 400
Industry Business process management
Document management system
Enterprise Content Management
Managed Print Services
Enterprise output management
Printers
Predecessor Printer and printer supply operations of IBM
Founded 1991
Headquarters Lexington, Kentucky, U.S
Area served
Worldwide
Key people
Paul Rooke
(Chairman and CEO)
Products Business process management
Document management system
Enterprise Content Management
Managed Print Services
Enterprise output management
Printers
Toner
Revenue Increase US$3.711 billion (2014)[1]
Decrease US$149.2 million (2014)[1]
Decrease US$79 million (2014)[1]
Total assets Increase US$3.633 billion (2014)[1]
Total equity Decrease US$1.281 billion (2014)[1]
Number of employees
12,700 (December 2014)[1]
Slogan Open the possibilities
Website Lexmark

Lexmark International, Inc. is an American corporation that manufactures laser printers and provides enterprise software. The company is headquartered in Lexington, Kentucky, in the United States.

History[edit]

Lexmark Headquarters, Lexington, KY

Lexmark was formed on March 27, 1991 when IBM divested a number of its hardware manufacturing operations, including printer and printer supply operations, to the investment firm Clayton & Dubilier & Rice, Inc. in a leveraged buyout.[2][3][4][5] Lexmark became a publicly traded company on the New York Stock Exchange on November 15, 1995.[6] The name Lexmark comes from a combination between "lexicon" and "mark".

Operations[edit]

The firm's corporate headquarters is located in Lexington and research and development (R&D) offices are distributed globally with additional R&D facilities located in Boulder, Colorado; Lenexa, Kansas; Cebu, Philippines; Kolkata, West Bengal, India; Berlin, Germany; Stockholm, Sweden[7] and Irvine, California.[8] Lexmark has offices throughout North and South America, Asia, Africa and Europe. The company has more than 12,000 employees worldwide.

Acquisitions[edit]

  • In May 2010, Lexmark acquired Perceptive Software for $280 million to build upon its software offerings.[9] Perceptive Software was a software firm that developed enterprise content management (ECM), business process management (BPM), and document output management (DOM) applications.[2]
  • In 2011, Lexmark International purchased Netherlands-based Pallas Athena in a cash transaction valued at approximately $50.2 million.[10] The purchase of Pallas Athena added business process management (BPM), document output management (DOM) and process mining software capabilities to Lexmark's services.
  • In March 2012, Lexmark announced the acquisition of Luxembourg-based BDGB Enterprise, including its U.S. subsidiary Brainware, Inc., for a cash purchase price of approximately $148 million.[11] Brainware's intelligent data capture platform extracted critical information from paper and electronic documents, validated the extracted data and passed it to customers' data management systems, enterprise resource planning (ERP) and/or financial management systems.
  • In March 2012, Lexmark acquired Australia-based ISYS Search Software and U.S.-based Nolij Corporation, both for $32 million.[12] ISYS built enterprise search solutions and Nolij developed Web-based document imaging and workflow software.
  • In January 2013, Lexmark acquired Minnesota-based Acuo Technologies for $45 million. Acuo Technologies developed medical imaging document management software.[13]
  • In March 2013, Lexmark announced acquisitions of AccessVia and Twistage for a combined purchase price of approximately $31.5 million.[14]
  • In late August 2013, Lexmark signed an agreement to acquire Germany-based Saperion AG. Saperion was a leading developer and provider of enterprise content management (ECM) and business process management (BPM) software in Europe. The company was purchased for $72 million.[15]
  • In early October 2013, Lexmark acquired PACSGEAR. PACSGEAR was a leading provider of connectivity solutions for medical image management and electronic health records. The company was purchase for approximately $54 million.[16]
  • In September 2014, Lexmark acquired Stockholm, Sweden based ReadSoft for $251million.[17] Readsoft was a financial process automation solutions company that specialized in software solutions for document process automation on premise or in the cloud.[18]
  • In May 2015, Lexmark announced that it had acquired Kofax for roughly $1 billion.[19] Kofax, headquartered in Irvine, California, was a leading provider of smart process applications. They combined capture, process management, analytics and mobile capabilities to organizations.[20]

Inkjet exit[edit]

In August 2012, Lexmark announced that it would stop production of its inkjet printer line.[21][22] Lexmark will continue to provide service, support and aftermarket supplies for its inkjet installed base.[23]

In April 2013, Funai Electric Company, Ltd. announced that it had signed an agreement to acquire Lexmark's inkjet technology and assets for approximately $100 million (approximately ¥9.5 billion). Funai acquired more than 1,500 inkjet patents, Lexmark's inkjet-related research and development assets and tools, all outstanding shares and the manufacturing facility of Lexmark International (Philippines), Inc., and other inkjet-related technologies and assets.[24]

Legal cases[edit]

A court victory in 2005 was handed to Lexmark in the case of ACRA v. Lexmark. This case states that Lexmark can enforce the "single use only" policy written on the side of Lexmark printer cartridge boxes sold to certain large customers at a discount, with the understanding that the customers will return the cartridges to Lexmark after using them. This means that these customers can face lawsuits if they breach the agreements, and do not return the cartridges.

Also in 2005, Lexmark suffered a legal defeat in the case of Lexmark Int'l v. Static Control Components, when the U.S. Supreme Court rejected Lexmark's petition for a writ of certiorari, thereby rejecting their attempt to have the Court hear their case. In this case, the defendant was a manufacturer of microchips that allowed third-party ink and toner cartridges to work on printers, including many manufactured by Lexmark. Such printers incorporated a feature that would require authentication from a microchip within the ink/toner cartridge in order to function; this was designed to prohibit users from refilling the cartridges. Yet a recent firmware update allowed Lexmark to prevent end users from refilling ink cartridges or using third-party ink cartridges.

See also[edit]

References[edit]

  1. ^ a b c d e f "2014 Form 10-K, Lexmark International, Inc.". United States Securities and Exchange Commission. 
  2. ^ "Customs Ruling HQ 544887". U.S. Customs and Border Protection. October 2, 1992. 
  3. ^ "Lexmark International Group 1996 annual report, SEC Form 10-K". Advameg. March 24, 1997. 
  4. ^ "IBM Archives: 1991". 
  5. ^ Lewis, Peter H. (1991-12-22). "The Executive Computer; Can I.B.M. Learn From a Unit It Freed?". The New York Times. Retrieved 2010-05-07. 
  6. ^ "LXK stock quote - Lexmark International, Inc. stock price". NASDAQ.com. Retrieved 2013-04-22. 
  7. ^ http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9NTcxODk3fENoaWxkSUQ9Mjc0ODQ0fFR5cGU9MQ==&t=1.  Missing or empty |title= (help)
  8. ^ http://www.kofax.com/company/about-us.  Missing or empty |title= (help)
  9. ^ "Lexmark Newsroom - News Releases". Newsroom.lexmark.com. 2010-05-21. Retrieved 2013-04-22. 
  10. ^ "Lexmark acquires Pallas Athena - LEXINGTON, Ky., Oct. 18, 2011 /PRNewswire/". Prnewswire.com. Retrieved 2013-04-22. 
  11. ^ "Lexmark acquires Brainware - Mar 5, 2012". Newsroom.lexmark.com. Retrieved 2013-04-22. 
  12. ^ "Lexmark acquires ISYS Search Software and Nolij - Mar 19, 2012". Newsroom.lexmark.com. Retrieved 2013-04-22. 
  13. ^ "Lexmark acquires Acuo Technologies - Jan 2, 2013". Newsroom.lexmark.com. 2013-01-02. Retrieved 2013-04-22. 
  14. ^ "Lexmark acquires Twistage and AccessVia". Newsroom.lexmark.com. 2013-03-05. Retrieved 2013-09-21. 
  15. ^ http://newsroom.lexmark.com/2013-08-20-Lexmark-announces-agreement-to-acquire-Saperion
  16. ^ http://newsroom.lexmark.com/2013-10-03-Lexmark-acquires-PACSGEAR
  17. ^ Big acquisition brings Perceptive Software opportunity and layoffs Bizjournals.com, 2014-09-19
  18. ^ [1]
  19. ^ [2]
  20. ^ [3]
  21. ^ "Lexmark announces restructuring". Lexmark. 2012-08-28. Retrieved 2012-08-28. 
  22. ^ "Lexmark to exit inkjet printer market". pcpro.co.uk. 2012-08-28. Retrieved 2012-08-28. 
  23. ^ "Lexmark announces restructuring". Newsroom.lexmark.com. 2012-08-28. Retrieved 2013-04-22. 
  24. ^ "Funai acquiring Lexmark's inkjet-related technology and assets". Newsroom.lexmark.com. 2013-04-01. Retrieved 2013-09-21. 

External links[edit]