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Lexmark Announces 2 New Buys

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On Tuesday, computer-printer maker Lexmark (NYSE: LXK  ) announced two acquisitions that the company says will "enhance and expand Lexmark's capability to capture, manage, and deliver rich media content."

The first purchase, of San Francisco-based Twistage, brings Lexmark "an industry-leading, pure cloud software platform for managing video, audio, and image content."

The second, of Seattle-based AccessVia, gives Lexmark access to software enabling on-demand printing of shelf-edge signs in stores. With this software, a store owner can "quickly design and produce in-store signage for better and more timely merchandising." According to a press release on the purchase, AccessVia already has 75 retail customers using its software to produce product signs in more than 60,000 stores.

Together, the two acquisitions cost Lexmark $31.5 million. Revenues or profits that the company expects to reap from its acquisitions were not disclosed. Nonetheless, investors responded positively to the news, bidding Lexmark shares up 0.9% to end the day at $22.64.

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Related Tickers

9/30/2016 4:02 PM
LXK $39.96 Up +4.83 +13.75%
Lexmark Internatio… CAPS Rating: **