Printer maker and document solutions provider Lexmark has agreed to acquire Germany-based software firm Saperion for about $72 million.
The company said in a statement on Monday it wants to bolster its software and solutions provisions, while at the same time returning more than 50 percent of its free cash flow back to shareholders.
Saperion is an enterprise content management software firm that makes highly scalable products that integrate with a range of email, enterprise resource planning, and document management systems. The company also has cloud-based and mobile enterprise systems to help company employees access documents and resources on the go.
It has a number of high profile clients on its books, including Bank Gutmann, Lufthansa, the Russian Presidency, Sony Austria, Siemens, and Vodafone Group.
The enterprise solutions company will join Lexmark-owned Perceptive Software on completion of the acquisition. Lexmark vice president Scott Coons said the move would help strengthen the division's global footprint.
Lexmark has struggled in recent years with tightening margins and struggling to maintain growth in developing regions. The company has in recent years aimed to bolster its position in the market by transitioning from a printer maker to an enterprise end-to-end solutions provider.
Unlike some of its competitors, such as Kodak, it has bolstered its core business instead of ditching it and added software, services, and solutions around it.
Subject to regulatory approval in Germany, the deal is expected to close within the third quarter of 2013.