With this acquisition, Kofax, which is backed by Clearlake Capital and TA Associates, aims to expand its position in the intelligent automation software market and further enhance its Intelligent Document Processing capabilities.
Intelligent automation solutions provider Kofax announced August 18 that it has acquired Intelligent Document Processing vendor Ephesoft. This acquisition extends Kofax’s IDP solutions and cloud capabilities to provide an even more comprehensive suite of intelligent automation software solutions for customers worldwide. Financial terms were not disclosed.
Reynolds C. Bish, Chief Executive Officer at Kofax, said: “We’re pleased to welcome Ephesoft’s customers, partners and employees into the Kofax family. We’ve followed Ephesoft’s progress in market for years as we’ve both focused on helping customers digitally transform their businesses. This acquisition extends our IDP solutions and cloud capabilities, allowing Kofax to better address the needs of customers around the world.”
Ike Kavas, Founder and Chief Executive Officer at Ephesoft, commented: “We’ve grown Ephesoft to provide a comprehensive set of value-add intelligent document processing capabilities and look forward to continuing that growth as part of Kofax. Kofax will enhance Ephesoft’s go-to-market reach and ability to scale the business. Our customers will also benefit from Kofax’s larger market reach, and together we’ll be able to offer them the broadest range of software and solutions to accelerate their digital workflow transformation journeys.”
Kofax further stated that it will continue to support Ephesoft’s products and customers, and CEO Ike Kavas will continue to lead Ephesoft’s organizational efforts.
Recently, Kofax announced that it had been acquired by private investment firm Clearlake Capital and private equity firm TA Associates.
The full press release on the acquisition of Ephesoft can be found here.
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