Category: Office

Lexmark International Set to Acquire Kofax Ltd

Anne Valaitis
Mar 25, 2015

 

 

In what seems to be shaping up as an exciting year in document and information technology, late yesterday it was announced that Lexmark International would seek to acquire Kofax Ltd for approximately $11 a share, or $1 billion. Upon news of the agreement, Kofax shares spiked 36%.  This is most certainly a disruptive move by Lexington, Kentucky-based Lexmark, and it positions them to be a “powerhouse” in intelligent capture and document processing while adding sophisticated platform capabilities for BPM.

Lexmark’s most recent acquisitions:

 

Lexmark’s acquisition spree kicked off in 2010, when the company acquired Kansas-based Perceptive Software (for a reported $280 million) with the goal of transitioning from a hardware-centric vendor to a solutions provider. Perceptive Software was a major provider of ECM software and solutions with specific strength in the higher education, healthcare and government sectors and its Image Now software platform offers a broad range of workflow solutions.

The marriage offered clear synergies for growth at a time when Lexmark’s revenue had slumped following the decline of the inkjet market.  Lexmark’s subsequent exit from the inkjet business reaffirmed the importance of new revenues streams. Lexmark, with its global infrastructure of direct & indirect channel for printing hardware, was an excellent fit for Perceptive with its advanced software solutions and vertical expertise. Both came from positions of strength in the medium sized business sector reaching up to the enterprise.

 

 

 

Irvine California-based Kofax provides a diverse set of software and platform solutions for information intensive customer interactions.  With $297 million in revenues reported in 2014, the company has direct sales operations in 30 countries and 850 channel partners working in 70 countries. Kofax has also made strategic acquisition investments in recent years.  In February 2013, Kofax acquired Altosoft to add business intelligence and analytics, then shortly after in July they acquired Kapow for data analytics. In September 2014, Kofax further strengthened its capabilities by obtaining Softpro GmbH for e-signature and fraud detection.
The combination of solutions from Lexmark (with Perceptive) and Kofax for sophisticated capture, intelligent routing, data mining/analytics and other key business processes creates a very strong and comprehensive portfolio.

“The acquisition of Kofax enhances our best-in-class offerings so our customers can capture, manage, access, and act upon their information more efficiently, and extends Lexmark into the high-growth smart process applications market,” said Paul Rooke, Lexmark chairman and chief executive officer. “Our customers will have a breadth of hardware and software solutions that connect their information silos and automate their business processes – enabling them to access the most relevant information at the moment they need it to drive business forward”.

“We believe joining forces with Lexmark benefits our customers, partners, employees and shareholders and the merger will build on Kofax’s rich history of continuous innovation,” said Reynolds C. Bish, chief executive officer, Kofax. “Our market-leading ability to simplify and transform the First Mile™ of customer engagement is a strong complement to Perceptive Software’s strength in managing information across silos. As a result, we’re excited about the future and working together to realize the full potential of this opportunity to the benefit of all stakeholders.”

 

The Kofax acquisition reflects Lexmark’s ever-growing emphasis on software (including enterprise content management, business process management, document output management, search, intelligent capture software, vertical-oriented solutions); other high value offerings like laser products and MPS; and creating synergies among all three. The Kofax pickup also provides Lexmark with strong end to end vertical industry solutions such as financial services, insurance and healthcare, thus providing a foothold in the entire document lifecycle.     This is a significant move for Lexmark into software, considering a short time ago they were primarily print focused. This industry will continue to change and transform rapidly away from printed pages, and towards flexible, sophisticated solutions designed to solve business problems.

 

Konica Minolta Diversifying their Portfolio

Allison Correia
Mar 13, 2015

At Konica Minolta’s Art of Disruption Dealer meeting last month in Los Angeles, California, they discussed what they believe are the industry’s biggest trends, how Konica Minolta plans to transform their business through these evolutions, and what their dealers should do to evolve with them to continue to be successful. A core message at the conference was that of diversification through new technologies to “disrupt” the industry. Read more »

HP Introduces Next-Generation LaserJet Printers

Christine Dunne, Barbara Richards and Deborah Hawkins
Mar 10, 2015

Today, HP announced the global launch of a “re-engineered, sleek” new series of A4 color LaserJet printers intended to make businesses more efficient. The devices—which consist of one MFP and three single function printers—are a significant departure from previous LaserJet products. Comprising new “JetIntelligence” technology, they take up 40% less space; use up to 53% less energy; and wake up, print, and duplex “in a fraction of the time.”

The “enterprise” M552 and M553 single function printers, for instance, offer 100% duplex productivity—meaning that in addition to printing 40 one-sided pages per minute they can achieve 40 images per minute spread across two sides of the page. HP says the announcement represents its most significant laser printing re-engineering since the launch of the first LaserJet in 1984.

Footprint of New HP LaserJet Devices

Source: HP press event in New York City

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Ricoh Announces Platform at LegalTech to Enhance Workflows and Reduce Costs for Law Firms

Allison Correia
Feb 19, 2015

This year at the annual LegalTech show held Feb. 3-5 at the New York City Hilton Midtown, over 100 exhibitors shared the tradeshow floor to demonstrate and display their robust technology geared to help law firms and legal professionals optimize their businesses and workflows. One of the most exciting announcements of the show was Ricoh’s newest offering that they are temporarily calling “Legal MFP”, a platform that can be used on select Ricoh MFP devices to improve end-user workflow while enhancing operational efficiencies, and lowering costs. Read more »

Ohio Highway Patrol Thinks Electronic System is Just the Ticket

Michael Whalen

Ohio state troopers are now giving printouts, instead of hand-scribbled citations, to misbehaving drivers. Read more »

CSA Rebrands Business Services Division, Promises Focus on New Vertical Markets and Strengthened Core

Brendan Morse and Allison Correia
Feb 12, 2015

 

At its Second Anniversary Event, Canon Solutions America (CSA)unveiled the name change of its Business Services Division to Enterprise Managed Services Division (EMS). VP of Enterprise Services and Solutions, John Reilly, and VP of Managed Services, Valerie Belli, gave the presentation detailing the rebranded division.

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The iPhone, with Help from China, Bears More Fruit for Apple

Michael Whalen

Record sales of iPhones helped boost Apple to its biggest profit in corporate history during the fourth quarter of last year. Read more »

Office Supplies and the Death of Traditional Competition

Michael Whalen
Feb 9, 2015

 

America’s two largest U.S. office supply chains are once again challenging the views of antitrust regulators – and this time, if they succeed, it could spell the demise of traditional competition in that business sector. Read more »

HP Future-Proofs Customers with its Next Generation Printhead Design

Ron Gilboa
Feb 6, 2015

HP has long been at the forefront of innovation in the digital printing marketplace with inkjet solutions spanning consumer, office, and production. HP’s announcement of its High Definition Nozzle Architecture (HDNA) shows how inkjet technology is evolving, but the main take-away shouldn’t be just about high resolution, redundancy, or better print quality. The important part of this announcement is how it helps future-proof investments made by HP customers.

The centerpiece of the announcement is a new 2,400 dot-per-inch, dual channel, thermal inkjet (TIJ) print head Read more »

Ricoh Helps Customers See Through the Cloud

Michael Whalen
Jan 29, 2015

So much has been written about the Cloud in recent years that it has begun to take on different meanings that are dependent upon the audience. To some, it’s an irreplaceable tool that makes life easier; to others, it’s a modern but somewhat mysterious form of technology; to still others, it’s simply confusing. Read more »

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