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Lexmark Acquires Brainware

ASHBURN, Va., March 5, 2012 /PRNewswire/ -- Brainware, Inc., an innovative provider of intelligent data capture software, announced today that it has been acquired by Lexmark International, Inc. (NYSE: LXK).  Brainware joins Perceptive Software, a stand-alone business unit within Lexmark, and will continue to invent, sell, and support Brainware's powerful intelligent data capture technology.

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Lexmark provides businesses of all sizes with a broad range of printing and imaging products, software, solutions and services that help customers to print less and save more. Perceptive Software is a leading provider of process and content management software that helps organizations fuel greater operational efficiency.

Brainware is an established leader in the intelligent data capture market space.  Its flagship Brainware Distiller™ solution has been deployed into many Global 2000 companies as a platform for invoice automation, remittance processing, mailroom automation, order processing, and other applications. 

This solution was recently noted as the market share leader for intelligent data capture in the "2011 Global Trends in Automated Data Capture in Accounts Payable", conducted by the Institute of Financial Operations.

Intelligent data capture is a high growth market that is closely adjacent to both Lexmark's distributed capture solutions and Perceptive Software's enterprise content management (ECM) and business process management (BPM) solutions.  By bringing these closely aligned technologies together, Lexmark will further strengthen its unique, industry-leading end-to-end products, solutions and services with a broader range of software that enables customers to capture, manage and access information and business process workflows.

For existing Brainware customers, partners, and prospects, the acquisition by Lexmark signals a strong commitment to not only Brainware's current products and technologies, but also to the ongoing development of new, transformational technologies that continue to shape the future of document recognition and data extraction to feed enterprise systems.    

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