TA and Clearlake-backed Kofax acquires intelligent document processing firm Ephesoft

Kofax is an Irvine, California-based intelligent automation software provider.

  • Mizuho Securities acted as financial advisor to Ephesoft
  • Ike Kavas, founder and CEO of Ephesoft, will continue leading the company’s organizational efforts
  • Clearlake currently has over $72 billion of assets under management

Kofax, which is backed by TA Associates and Clearlake Capital Group, has acquired Irvine, California-based Ephesoft Inc, an intelligent document processing company. No financial terms were disclosed.

Kofax is an Irvine, California-based intelligent automation software provider.

Kofax will continue supporting Ephesoft’s products and customers, and Ike Kavas, founder and CEO of Ephesoft, will continue leading the company’s organizational efforts.

“The combination of Kofax and Ephesoft reinforces our growth vision for Kofax and brings together experience and product capabilities within the intelligent document processing industry, to provide a more comprehensive set of software solutions to the combined company’s customers,” said Paul Huber, managing director, and Erik Hansen, vice president of Clearlake, in a statement. “We have seen first-hand how the pandemic and corresponding dislocation has caused enterprises to re-evaluate manual workflows, and we believe that the trends underlying the transformation towards digital workflows are long-term.”

Mizuho Securities acted as financial advisor to Ephesoft.

Clearlake currently has over $72 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. The firm is headquartered in Santa Monica, California.

TA has raised $47.5 billion in capital since its founding in 1968.