The acquisition includes all of Lexmark’s Enterprise Software business, which is made up of three entities; Kofax, ReadSoft and Perceptive Software. Terms of the deal, which is expected to close Q3 of 2017, were not disclosed. Once the deal is finalized, Kofax and ReadSoft will be combined into a single, newly independent Thoma Bravo portfolio company. The new entity will operate under the Kofax brand and will be led by President of Lexmark Enterprise Software, Reynolds Bish.
Regarding the acquisition, Seth Boro, Managing Partner at Thoma Bravo said that he is “thrilled to partner with Reynolds and his management team under the Kofax brand as a new Thoma Bravo portfolio company.” Boro siad that Kofax’s “vision to digitally transform and simplify initial customer interactions with businesses, or what they term the First Mile” offers an opportunity for Thoma Bravo.
Kofax was recently named by Forrester as a leader in ECM Transactional Content Services. Last month, the company announced the availability of ReadSoft Online R9, an automated accounts payable solution. And in March, a top 10 global bank deployed Kofax Mobile Credit and Debit Card Framework and the Kofax Mobile Capture Platform.