Acquisition to Strengthen and Enhance Digital Capture and SaaS-based Capabilities for Kofax’s Intelligent Automation Platform
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.