RPA and intelligent automation technology provider Kofax recently announced it has acquired intelligent document processing (IDP) platform provider Ephesoft. Kofax, which itself was acquired by Clearlake Capital earlier this summer, focuses on low-code software enabling digital transformation through document intelligence, process orchestration, AI, cognitive services, and connectivity to other software applications. Kofax said acquiring Ephesoft will expand its integrated IDP and cloud capabilities as well as the combined company’s go-to-market ability.
“The combination of Kofax and Ephesoft reinforces our growth vision for Kofax and brings together experience and product capabilities within the intelligent document processing industry, to provide a more comprehensive set of software solutions to the combined company’s customers,” said Paul Huber, managing director, and Erik Hansen, vice president, of Clearlake. “We have seen first-hand how the pandemic and corresponding dislocation has caused enterprises to re-evaluate manual workflows, and we believe that the trends underlying the transformation towards digital workflows are long-term. This partnership represents an important milestone as we continue in our mission to position Kofax at the forefront of addressing these trends.”
IDP, often integrated into RPA and intelligent automation platforms, enables organizations to extract and validate data from unstructured and semi-structured formats and use that information to automate highly manual business processes. Kofax and Ephesoft, both based in Irvine, Calif., are acknowledged players in IDP.
Financial terms of the agreement were not disclosed.