Kofax Acquires Provider of Intelligent Document-Processing Solutions
On August 18th, Kofax, a provider of intelligent-automation software for digital workflows, announced that it had acquired Ephesoft Inc. for an undisclosed sum.
Kofax, which was acquired by Clearlake and TA Associates last month, says the acquisition will add to Kofax’s intelligent document processing (IDP) solutions. Ephesoft provides intelligent document-processing solutions for invoice processing, mailroom automation, records digitization, customer onboarding, and handwriting extraction.
Kofax CEO Reynolds C. Bish commented: “This acquisition extends our IDP solutions and cloud capabilities, allowing Kofax to better address the needs of customers around the world.”
Ephesoft CEO and founder Ike Kavas commented: “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 will continue supporting Ephesoft’s products and customers, and Kavas will continue leading Ephesoft.
Kofax noted how the pandemic has caused enterprises to re-evaluate manual workflows, and believes that the digital-transformation (DX) trend is long-term. The partnership is said to represent an important milestone as Kofax continues addressing the DX trend.
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