Kofax acquires Softpro GmbH

Kofax has purchased Softpro GmbH, a provider of signature verification, fraud prevention and electronic signature software and services.

Kofax says Softpro's solutions will help speed, simplify and instill confidence by enabling organizations to offer a fully digital, streamlined and secure experience. Kofax says its “First Mile” electronic transaction management capabilities transform and optimize the customer experience, while reducing operating costs and driving increased competitiveness, growth and profitability. This differentiates Kofax's smart process applications from competitors who do not offer these value-added capabilities, and adds another valuable reason for organizations to choose the company's solutions.

Kofax reports it acquired all of Softpro's stock for total consideration of $34.7 million in cash. Of this amount, $31.2 million was paid as part of the closing of the transaction on Sept. 1, 2014. An additional $1.1 million will be paid 90 days after closing, $1.2 million will be paid one year from closing and $1.2 million will be paid two years from closing, with said amounts being subject to certain indemnification terms and conditions.