Headquartered in Irvine, California, Kofax provides an intelligent automation software platform for enterprises to achieve digital transformation through document intelligence, process orchestration, AI, cognitive services, and connectivity to other software applications. Over the last five years, Kofax has been owned by Thoma Bravo, a leading private equity firm in Software & Technology. Yesterday, it was announced that two other companies, Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) and TA Associates, have completed their acquisition of Kofax. J.P. Morgan, Jefferies LLC, Arma Partners, and Credit Suisse served as financial advisors to TA and Clearlake. Financial terms of the transaction were not disclosed.
According to Harry Taylor and Mike Libert, the two executives of TA, they are thrilled to complete the acquisition of Kofax and, together with Clearlake, begin their new partnership with Reynolds Bish, CEO of Kofax, and the Kofax team. TA shares a vision for Kofax’s next phase of growth, and believes its own deep industry experience, operational knowledge and value-add capabilities will strengthen and expand the Kofax platform.
As for the other new owner of Kofax, Clearlake, here is a comment of its executives:
“We’ve been impressed by Reynolds and his team’s ability to scale and transform Kofax into an end-to-end platform within workflow automation software, particularly at a time when customers are increasingly looking to digitally transform their businesses. With the acquisition closed, we look forward to partnering with the Company to leverage our O.P.S.® framework and accelerate investment in cloud-based technology alongside product growth initiatives in RPA and machine learning to deliver more value to customers, employees, and shareholders.”Behdad Eghbali, Co-Founder and Managing Partner, and Paul Huber, Managing Director, of Clearlake