05 Mar 2012 Brainware snapped up by Lexmark
Lexmark International have announced the acquisition of Luxembourg-based BDGB Enterprise, including its U.S. subsidiary Brainware for a cash purchase price of approximately $148 million.
According to the report in Streetinsder this acquisition is “consistent with Lexmark’s capital allocation framework of pursuing acquisitions to support the growth of the company while returning more than 50 percent of free cash flow to shareholders, on average, through quarterly dividends and share repurchases.”
That’s as maybe but I would say it is more consistent with a cash rich company taking pragmatic measures to secure a future in which their traditional market (printing on paper) is diminishing rapidly.
