Printer and copier maker Lexmark International Inc. said Friday it agreed to buy business software company Perceptive Software for about $280 million in cash.
Perceptive's "content management" software is used in higher education, health care and by government agencies. Lexmark said the deal will provide "additional, growing revenue streams in software maintenance and professional services" that are not paper-dependent like its traditional business.
The company expects the acquisition to improve 2011 adjusted earnings. The deal is expected to close in the second quarter.
Shares of Lexmark rose 47 cents to $35.32 in morning trading.