Kofax Acquires PSIGEN

On June 2nd, Kofax, a provider of Intelligent Automation software for digital workflow,  announced it has acquired PSIGEN Software, a provider of document-capture, content-management, and workflow-automation software and solutions. Terms of the transaction were not disclosed

Kofax CEO Reynolds C. Bish said Kofax will continue to sell, develop, and support PSIGEN’s software and solutions. Bish said the acquisition adds to Kofax’s existing document-capture software and solutions, and extends Kofax’s position in the document-capture market, adding content-management software and solutions to Kofax’s product portfolio.

PSIGEN’s document-capture software, called PSIcapture, and its content-management software, PSIsafe, are said to provide specific application solutions, such as quote-to-cash, accounts payable and accounts receivable, in an easy-to-deploy and cost-effective manner. The products are available via on-premises perpetual, on-premises term, and cloud-based SaaS subscription licensing models. These solutions are primarily sold through more than 800 authorized resellers and distributors throughout North America and other regions.

PSIGEN’s PSIcapture document-capture solutions converts paper documents into digital files from document scanners, MFPs, and watched folders, and also provides data extraction. Files are then routed to document management and enterprise content management solutions.

PSIGEN’s PSISafe document-management solution is designed for storing, organizing, and accessing digital files.

PSIGEN’s founder and CEO Bruce Hensley said PSIGEN’s customers will benefit from Kofax’s much larger resources and global reach, and together the two companies will able to offer customers the broadest range of software and solutions in the marketplace to accelerate their digital workflow transformation.

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