Lexmark's Perceptive Software Inc Announces Layoffs

[Anonymous]

Fresh off its HQ Move, Lexmark's Perceptive Software Inc Announces Layoffs
By Bobby Burch Reporter- Kansas City Business Journal

Days after 750 staffers arrived at its new Lenexa-based headquarters, Perceptive Software Inc. announced layoffs.

In an email to staff, Perceptive CEO Scott Coons said the company will be eliminating "a number of" positions around the world and also closing offices in Beverly, Mass., and San Francisco. The company declined to comment on how many people in the area would be affected by the layoffs, saying its parent company, Lexmark International Inc., has a policy to not comment on internal human resource documents.

"These difficult steps are necessary in order to align our organization to achieve profitable growth," Coons wrote in an email obtained by the Kansas City Business Journal. "I appreciate your hard work and commitment as we continue to execute on our growth strategy and work toward profitability."

Coons added that Perceptive has acquired nine companies since 2010 and currently is integrating Sweden-based ReadSoft, which he called the company's "largest acquisition to date." Perceptive's substantial employee growth and expansion around the world also recently compelled the company to evaluate how to best achieve profitability, Coons wrote in the email.

"This growth reflects our dedication to expanding Perceptive Software's offerings, revenue and brand," he wrote. "However, we must do so profitably."

Lexmark in May announced plans to acquire ReadSoft, a document and business process management firm that provides cloud software. Lexmark was in a bidding war with Hyland Software U.K. to acquire a majority share in ReadSoft, which is important to Perceptive's business, according to an analyst note by the Trefis Team. Lexmark (NYSE: LXK) reportedly wants to leverage ReadSoft within Perceptive to beef up its reach into the expanding document business process solutions in Europe, the Middle East and Africa, according to the Trefis Team.

Shareholders of ReadSoft on Sept. 8 accepted Lexmark's revised offer for more than 90 percent of the company's shares for about $251 million. Settlement for the shares tendered prior to the Sept. 4 expiration date of Lexmark's tender offer is expected to begin around Sept. 11.

For years, Perceptive had one of the fastest-growing headcounts in the Kansas City metro area. The company previously hinted that it would need to lay off employees as the mergers created duplicate positions through the company. In May 2013, Perceptive announced it terminated roughly 40 employees, citing its growth as the reason.

In March 2013, Lexmark bought San Francisco-based Twistage to bolster Perceptive. The office develops a software platform that manages video, audio and imaging content.

In 2012, Lexmark acquired Nolij Corp. of Beverly, Mass. for $32 million. Nolij develops Web-based document imaging and workflow software.

Perceptive last week welcomed its 750 area staff members to its 237,900 square-feet headquarters at 8900 Renner Blvd. in Lenexa.

Fresh off its HQ Move, Lexmark's Perceptive Software Inc Announces Layoffs
By Bobby Burch Reporter- Kansas City Business Journal

Days after 750 staffers arrived at its new Lenexa-based headquarters, Perceptive Software Inc. announced layoffs.

In an email to staff, Perceptive CEO Scott Coons said the company will be eliminating "a number of" positions around the world and also closing offices in Beverly, Mass., and San Francisco. The company declined to comment on how many people in the area would be affected by the layoffs, saying its parent company, Lexmark International Inc., has a policy to not comment on internal human resource documents.

"These difficult steps are necessary in order to align our organization to achieve profitable growth," Coons wrote in an email obtained by the Kansas City Business Journal. "I appreciate your hard work and commitment as we continue to execute on our growth strategy and work toward profitability."

Coons added that Perceptive has acquired nine companies since 2010 and currently is integrating Sweden-based ReadSoft, which he called the company's "largest acquisition to date." Perceptive's substantial employee growth and expansion around the world also recently compelled the company to evaluate how to best achieve profitability, Coons wrote in the email.

"This growth reflects our dedication to expanding Perceptive Software's offerings, revenue and brand," he wrote. "However, we must do so profitably."

Lexmark in May announced plans to acquire ReadSoft, a document and business process management firm that provides cloud software. Lexmark was in a bidding war with Hyland Software U.K. to acquire a majority share in ReadSoft, which is important to Perceptive's business, according to an analyst note by the Trefis Team. Lexmark (NYSE: LXK) reportedly wants to leverage ReadSoft within Perceptive to beef up its reach into the expanding document business process solutions in Europe, the Middle East and Africa, according to the Trefis Team.

Shareholders of ReadSoft on Sept. 8 accepted Lexmark's revised offer for more than 90 percent of the company's shares for about $251 million. Settlement for the shares tendered prior to the Sept. 4 expiration date of Lexmark's tender offer is expected to begin around Sept. 11.

For years, Perceptive had one of the fastest-growing headcounts in the Kansas City metro area. The company previously hinted that it would need to lay off employees as the mergers created duplicate positions through the company. In May 2013, Perceptive announced it terminated roughly 40 employees, citing its growth as the reason.

In March 2013, Lexmark bought San Francisco-based Twistage to bolster Perceptive. The office develops a software platform that manages video, audio and imaging content.

In 2012, Lexmark acquired Nolij Corp. of Beverly, Mass. for $32 million. Nolij develops Web-based document imaging and workflow software.

Perceptive last week welcomed its 750 area staff members to its 237,900 square-feet headquarters at 8900 Renner Blvd. in Lenexa.

[Author]

September 23, 2014 at 12:53 PM