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.    

"With the acquisition of Brainware, Lexmark is further strengthening and differentiating our industry-leading managed print services offerings and our end-to-end business process solutions," said Paul Rooke, Lexmark's chairman and chief executive officer. "Brainware's innovative intelligent data capture technology will be attractive to our customers across the globe."

"Brainware's sophisticated technology brings a powerful set of capabilities that further round out our process and content management offerings, and are especially appealing to large enterprises," said Scott Coons, Perceptive Software's president and chief executive officer and Lexmark vice president. "Many of our customers use our technology to manage very high volumes of content. Brainware's proven accuracy rate in these environments gives our customers an even greater ability to drive cost out of their business and realize an enhanced return on investment from their core business applications."

"There are strong synergies between the Lexmark, Perceptive, and Brainware solutions and customers," said Carl E. Mergele, chief executive officer at Brainware.  "Brainware's mission remains and we will continue to support our valuable business and OEM partners, and will also help our existing customers benefit from end-to-end solutions that include world class enterprise content management and business process management solutions."

About Brainware, Inc.
Brainware, Inc. is an innovative provider of intelligent data capture and enterprise search solutions that help Global 2000 companies eliminate costly manual data entry, rapidly process large volumes of documents and retrieve data from across the enterprise. Its solutions were built from the ground up to manage unstructured data without templates, exact definitions, taxonomies or indexing.  Headquartered in Ashburn, Virginia, Brainware maintains global sales and support operations through its North American, U.K. and European offices.  Brainware customers include Airbus, Alcon, Anadarko, BB&T, Baylor Health Care System, British American Tobacco, BSkyB, Clear Channel Communications, Cleveland Clinic, Continental Airlines, CORT, Frontier Communications, Gardner Denver, Halliburton, Her Majesty's Prison Service, Johns Manville, KPMG, NEC, NHS/Steria, Newell Rubbermaid, Old Dominion Freight Line, Philip Morris International, Resurrection Health Care, Reynolds & Reynolds, Shell, Southern Company, Sun Chemical, The Bank of New York Mellon/SourceNet, TriZetto, and many others.  For more information, please visit www.brainware.com.

About Lexmark 
Lexmark International, Inc. (NYSE: LXK) 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, a stand-alone software business within Lexmark, is a leading provider of process and content management software that helps organizations fuel greater operational efficiency. In 2011, Lexmark sold products in more than 170 countries and reported more than $4 billion in revenue.

To learn more about Lexmark, please visit www.lexmark.com. For more information on Perceptive Software, please visit www.perceptivesoftware.com. For more information on Lexmark, see the Lexmark Facebook page and follow us on Twitter.

For more information about Perceptive Software, please visit the company's Facebook and Twitter profiles.

Brainware Media Contact:
Charles Kaplan
(703) 948-5886
[email protected]

Lexmark Investor Contact:
John Morgan
(859) 232-5568
[email protected]

Lexmark Media Contact:
Jerry Grasso
(859) 232-3546
[email protected]

Perceptive Software Media Contact:
Dan Dillon
(913) 636-4931
[email protected]

SOURCE Brainware, Inc.