In response to Mitek’s announcement yesterday that it has hired a new senior VP of sales, Kofax announced that it had hired Mitek’s previous senior VP of sales. Drew Hyatt has joined Kofax as senior VP of mobile applications. He will be based in Irvine, CA, and assuming he lives in San Diego (where Mitek is headquartered) he will join a number of ex-Captiva employees who make the commute north to Kofax (many by train).
Kofax introduced its Mobile Capture technology earlier this year. There was a ton of end user interest in it at the Kofax Transform event, but CTO Anthony Macciola cautioned that the product/toolkit was still in its early stages. That said, Kofax certainly has some aggressive sales plans for the technology.
An interesting sidenote is that Kofax’s technology, to me at least, seems clearly to cross into the patents Mitek has in this area, but neither Kofax or Mitek has commented this issue (even though I’ve asked). Part of the USAA lawsuit that we mentioned yesterday involves trying to invalidate these patents.
Kofax’s stock has seen a decent bump up this week, but it may just be due to general market conditions. That said, Mitek’s stock was up another 13% through mid-day, so maybe mobile capture is attractive to investors.