Kofax, a smart process application specialist, announced that it has acquired Kapow Technologies, Inc., a data integration software company for $47.5 million in cash. This acquisition will capitalize on Kapow’s expertise in integrating smart process applications with third party content.
Kofax can now benefit from content import and export functions along with data validation during business processes as a result of the acquisition. The move is also expected to bolster Kofax’s market penetration in the emerging electronic content transformation sector of the multi-channel capture market, one of the fastest growing sectors within the enterprise software market.
“By more quickly creating essential links between an organization’s smart process applications, systems of engagement and systems of record we can speed our time to market with new solutions and customers’ ROIs,” said Reynolds C. Bish, CEO of Kofax. “Kapow has successfully transitioned the majority of its software revenue from perpetual to term licenses while growing its total revenues during its last four fiscal years. We’ll be investing to grow its sales organization and further accelerate its software revenue growth while leveraging its software to accelerate growth in our smart process applications software and solutions business.”
Kapow Katalyst is an advanced data integration software that provides almost real-time application integration and process automation. It is equipped with both traditional API level integration capabilities as well as the newer Synthetic API system which is designed for a “point and click” approach that does not require coding. The data integration modules can be deployed through Kapow Kapplets, a lightweight and intuitive publishing app that requires no coding. This app gives users the ability to easily share and manipulate big data across the organization.
“As a successful market leader focused on providing smart process applications with the global presence and software assets needed to credibly execute that vision, Kofax is an ideal strategic fit for Kapow,” stated John Yapaola, CEO of Kapow. “With our strengths in big data integration, Kofax customers will achieve competitive advantage faster, and Kapow customers will have access to a broad array of complimentary software and solutions to better address their needs.”