Kofax

Since 1985 the corporation helps to increase efficiency and competitiveness of business of the clients due to transfer of any volumes of paper documents to an electronic form with recognition, automation of transfer of unstructured data in electronic databases and business applications.

Solutions of Kofax company allow to take the necessary data from paper, fax and electronic sources and to transform documents to a required format. Important advantage of the software of vendor to customer companies is that one product is used for processing of all document types, including and handwritten, in 140 languages. At the same time the program automatically improves quality of the scanned sample.

The products Kofax are demanded by the large companies with a difficult geographically distributed organization structure as they give an opportunity to work with documents far off: everything that is required to the user - it is the web browser, knowledge of the URL address and the login for login. One of main advantages of the software of Kofax is also its flexibility: it can be used in work with many models of scanners, multi-function printers and server applications for information storage and also is easily integrated with other technology platforms, including with SAP and Microsoft Office SharePoint Server.

Annually using the products Kofax over 525 billion pages of documents are processed, products are sold more than in 70 countries of the world.

22% of time of each employee are taken away by accomplishment of routine tasks, analysts of Kofax counted: copying and insert of data from the different systems, search and aggregation of data from applications, spreadsheets, websites and other data sources. At the same time up to 88% of mistakes in business processes it is made because of a human factor.

History

2018: Purchase from Nuance of business on release of software for work with documents for $400 million

On November 12, 2018 Nuance announced sale of division of Document Imaging specializing in the software for recognition and editing the scanned documents. These assets are bought by Kofax company for $400 million Read more here.

2015: Lexmark purchased Kofax for $1 billion

On March 24, 2015 it was announced Kofax purchase by the American producer of list devices and image processings of Lexmark International which by means of the transaction hopes to expand significantly the volume of software business in a corporate segment.^[1]

The acquisition value of Kofax is $1 billion or $11 for one its action that is 47% more than an exchange mark of $7.5 which was reached by securities of the company at the time of closing of biddings on March 24, 2015. During the prolonged session this day the stocks Kofax rose in price for 45.5% up to $10.91 apiece after the declaration of purchase of the producer of multifunction solutions on document handling. The quotations of Lexmark at the same time jumped by 8%.

Due to Kofax purchase the Lexmark company hopes to double the sales volume of the corporate software

It is going execute all formalities concerning merger of Kofax by Lexmark company in the second quarter 2015 provided that shareholders and regulators will approve this transaction. There are no premises for failure. The financial advisor of Lexmark within the transaction selects Goldman Sachs investment bank, at Kofax like that is the Lazard company.

Purchase of Kofax became a part of strategy of Lexmark assuming emphasis of vendor on the software and image handling facilities in the conditions of decline in demand for the consumer printing equipment. Earlier Lexmark abandoned the market of inkjet printers, but still sells supplies for these and other devices.

Lexmark expects to double at the expense of Kofax the annual volume of the business connected with development and sale of the corporate software — approximately to $700 million. At the same time the market of software on corporate content management and business processes where there is Lexmark, the company estimates at $10 billion, and its annual growth rates — at 10%.

In Lexmark also report that acquisition of Kofax should help the company to increase "significantly" an operational margin from sales of the corporate software and to add to earning per share about 10 cents in 2015.

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