Kofax to Acquire Nuance Document Imaging Solutions
Acquisition Secures Innovative Technologies to Enhance its Intelligent Automation Platform
Kofax today announced it entered into a definitive agreement to acquire Nuance Document Imaging (NDI), a division of Nuance Communications, Inc. (NASDAQ: NUAN).
NDI provides software to help organizations optimize their information-based capture and print processes from being labor intensive, error prone and costly, into becoming highly efficient, automated and secure. The company’s products assist organizations in complying with information security policies and regulations, reducing risk and ensuring employees have complete control over documents and information. Nuance’s cross-platform compatibility provides seamless deployment across multi-function printers (MFPs), printers, desktops and mobile devices. Nuance solutions deliver a consistent, familiar and intuitive user-experience for more efficient and natural interactions with technologies used to create, capture, print and process documents.
“Through the acquisition of Nuance’s document imaging division, Kofax will drive customer value by adding key technologies, including cloud compatibility, scan-to-archive, scan-to-workflow, print management and document security, to our end-to-end Intelligent Automation platform,” said Reynolds C. Bish, Chief Executive Officer of Kofax. “In addition we will now be able to combine the best capture and print management capabilities available in the market into one product portfolio.”
NDI is the recognized leader in worldwide device and print management. More than 6 million knowledge workers use NDI’s Capture and Workflow solutions. The company has more than 100,000 active deployments of its Print Management solutions. Through today’s acquisition, Kofax becomes the global leader in Capture and Print Management.
“Nuance’s comprehensive solutions allow organizations to streamline and eliminate gaps across the full spectrum of workflows spanning the lifecycle of documents from origin to archiving,” said Al Monserrat, EVP & General Manager, Imaging Division at Nuance Communications. “With Kofax, our customers will benefit from the complementary and expanded capabilities of Kofax’s Intelligent Automation platform with solutions that cater to their unique needs.”
The transaction is expected to close by the end of Q1, 2019.