The transaction is scheduled to close in the second quarter of 2015 and awaits a shareholder vote at Kofax, regulatory clearances and other customary closing terms, Kofax said Tuesday.
Kofax shareholders hold 25 percent of the company’s outstanding shares and have signed a voting agreement that commits them to support the merger.
Kofax’s smart process applications will be integrated into Lexmark’s Perceptive Intelligent Capture service under the merger agreement.
“Our customers will have a breadth of hardware and software solutions that connect their information silos and automate their business processes – enabling them to access the most relevant information at the moment they need it to drive business forward, ” said Paul Rooke, Lexmark chairman and CEO.
Lexmark says the acquisition will double its enterprise software revenue to $700 million and Kofax recorded $297 million in revenue for its 2014 fiscal year.