Appleby Advised Lexmark For Kofax Acquisition
Appleby acted as Bermuda counsel to Lexmark International, Inc. [Lexmark] in relation to its acquisition of Kofax Limited [Kofax]. Lexmark and Kofax entered into a merger agreement pursuant to which Lexmark acquired all of the outstanding shares of Kofax for $11.00 per share in cash for a total enterprise value of approximately US$1billion, net of cash acquired.
The Appleby team was led by Partner Tonesan Amissah and assisted by Associate Gary Harris.
Tonesan Amissah commented: “It was a pleasure working with Lexmark on this merger transaction which will see Lexmark nearly double the size of its enterprise software business to an approximately $700 million business.”
Lexmark is a leading provider of printing and imaging products, software, solutions and services. Kofax is a leading provider of smart process applications.
