Kofax, which is backed by Thoma Bravo, has agreed to acquire Tel Aviv-based Top Image Systems Ltd, a provider of on premise- and cloud-based applications that optimize content-driven business processes. No financial terms were disclosed. The deal is expected to close by the end of June 2019.
Irvine, CA, February 4, 2019 – Kofax®, a leading supplier of Intelligent Automation software to automate and digitally transform end-to-end business processes, today announced it has entered into a definitive agreement to acquire Top Image Systems™ Ltd. (NASDAQ:TISA) (TIS), a global innovator of on premise and cloud based applications that optimize content-driven business processes.
“TIS customers will enjoy single-vendor access to Kofax’s Intelligent Automation solutions which deliver increased efficiency, enabling the human and digital workforces of tomorrow,” said Reynolds C. Bish, Chief Executive Officer of Kofax. “Leveraging TIS’ SaaS expertise will assist us as we further advance the secure cloud capabilities of our end-to-end Intelligent Automation platform.”
TIS’ on-premise and cloud-based applications automatically capture, process and deliver content across enterprise applications, transforming information entering an organization into useful and accessible electronic data and delivering it, with minimal manual handling, to the relevant business system or person.
“We’re excited by the opportunity to join forces with Kofax,” said Brendan F. Reidy, Chief Executive Officer of TIS. “Together we’ll be able to provide a broader and deeper range of offerings to our customers, while leveraging the strength and stability that comes with being part of a larger global organization.”
The transaction is expected to close by the end of June 2019. Upon closing, Kofax will continue to support TIS’ products and customers.
Kofax software enables organizations to Work Like TomorrowTM–today. Kofax’s Intelligent Automation software platform helps organizations transform information-intensive business processes, reduce manual work and errors, minimize costs, and improve customer engagement. We combine RPA, cognitive capture, process orchestration, mobility and engagement, and analytics to ease implementations and deliver dramatic results that mitigate compliance risk and increase competitiveness, growth and profitability. Kofax provides a rapid return on investment for over 20,000 customers in financial services, insurance, government, healthcare, supply chain, business process outsourcing and other markets. Kofax delivers its software and solutions through its direct sales and services organization and more than 650 indirect channel partners and integrators in more than 60 countries throughout the Americas, EMEA and Asia Pacific. For more information, visit kofax.com.