Apr 21, 2016
Back in October 2015, Lexmark announced plans to explore strategic alternatives for its business which many took to mean they were exploring a major move like splitting the company in separate two entities, selling a significant portion of the company, or to sell the entire company as-is. Six months later, Lexmark announced on April 19, 2016 that it entered into a definitive merger agreement with a consortium of investors led by Apex Technology Co., Ltd. (Apex) and PAG Asia Capital (PAG), under which Lexmark will be acquired for $40.50 per share, representing a 30% premium to the price back in October (the day before Lexmark announced they were exploring strategic alternatives). This makes for all-cash transaction value of approximately $3.6 billion, net of cash. Read more »
Apr 24, 2015
Despite the proposed acquisition of Kofax by Lexmark, Kofax is going about business as usual with the recent announcement of a $2.4 million deal with a leading U.S. financial services firm. Just days ago, Kofax, a leading provider of smart process applications that simplify the business critical First Mile of information-intensive customer interactions, announced that an undisclosed leading U.S. bank has invested in Kofax TotalAgility to automate their banking operations including new customer onboarding, and loan application processing. Read more »
Mar 16, 2012
The 2012 Kofax Transform event was held in San Diego earlier this week.Â This Kofax event is a mix of partners, vendors, customers and analysts with a total attendance estimated at over 600.Â They had a robust lineup of educational sessions targeted at the diverse set of attendees that would span 2 days (there were pre-conference product certification classes as well).
Kofax has undergone dramatic changes in the last few years; optimizing their own historic business, reorganizing their channel (down from 1200 at a high), managing through a tired economy (both in the US and EMEA), and acquisitions meant to expand and bolster their capabilities and portfolio.Â Kofax remains a leader in enterprise scan and content capture with the lion’s share of licenses in this space.Â In order to remain on trend, and looking to be agile with its business, Kofax made two significant acquisitions in the last 8 months, Atalasoft and Singularity.Â Atalasoft is a development company that works with its DotImage SDK to image enable apps and portals.Â Singularity, by contrast, allows Kofax to extend their reach into the business beyond capture and into the BPM market.
At the event, the main message was “capture enabled business process management”, and what that will mean for its customers, and resellers.Â Executives such as CEO Reynolds Bish and CMO Martyn Christian spent time outlining the current business and then began to connect the dots for the future.Â The future, according to Kofax, will be heavily influenced by mobile development and technologies.Â They went so far as to provide a “preview” of a mobile app along with a strategy to integrate mobile into the capture continuum.
In terms of tone, I felt the event was well received from their partners and resellers.Â The dust seems to have settled and generally the resellers feel positive regarding the path that Kofax is taking.Â Customers I spoke with were happy with their implementations of Kofax, some being clients for years now.Â It remains to be seen how Capture, DM and ECM vendors will weather the storm of acquisition and compression in the industry, last week’s announcement of Lexmark acquiring Brainware demonstrates the value of content capture in a total solution.
Oct 27, 2009
Kofax recently wrapped up their annualÂ conference – Transform 2009 in San Diego, California. With over 425 in attendance, this audience was a mixture of partners, vendors and end-users. Kofax, founded in 1985, has undergone nothing short of a complete overhaul in the last 18 months. Most changes are thanks to CEO, Reynolds Bish. Bish, former founder of Captiva, spent his first few months with the company identifying many areas in need of serious modification and then went about implementing this revolution of strategic business change.
One of the first major initiatives was to change the name — formerly DICOM group plc, to Kofax. Meant to eliminate confusion with the brands, and quite frankly bring aboutÂ global synergy among the disparate business units (which according to Bish was sorely lacking), hence the Kofax name was adopted in February 2008.
Next, Bish set out to renovate the management team, making several changes to business unit heads and senior sales staff. The majority of these changes, according to Bish, were to bring experience and leadership to a company that was operating quiteÂ separate.
One of the most interesting announcements from Kofax came in September with the acquisition of 170 Systems. A leading provider of financial process automation software, the Markview suite of products provides invoice processing and workflow functionality.Â This acquisition could provide a turnkey A/P solution from a single provider, Kofax.
It became clear that Kofax has been busy…Transform was an appropriate event theme this year. Companies that can demonstrate agility and flexibility will ultimately survive and prosper. Arguably an enormous task, not without consequence and fallout, Kofax has seemingly positioned themselves to address the market, and customer needs with product and services.
Kofax Corporate Mission – To be the leading provider of
document driven business process automation solutions