Kofax bought Atalasoft for $5.5m
Last month Kofax bought Atalasoft for $5.5 million in cash (with another $4.2 million earnout for a potential total of $9.7M). Atalasoft makes imaging software development kits (SDKs). According to a statement by Kofax, it plans to enhance those SDKs, and add them to Kofax's Capture and Transformation Modules software later this year.
Kofax announced the sale closed last week on June 1st.
According to a statement, "Atalasoft's flagship product--DotImage--is the number one SDK for document scanning, viewing, annotating and processing in Microsoft .NET environments for traditional client server, portal and Internet browser-based applications."
Reynolds C. Bish, Chief Executive Officer of Kofax sees this as an opportunity for his company to take advantage of the increasing popularity of online applications in the enterprise. "The widespread adoption of online applications provides another way for information to enter an enterprise," he said.
What he means is that he can leverage Atalasoft's technology for customers using browser-based applications and give customers the ability to capture information wherever it is, even outside the firewall.
Atalasoft was started by Bill Bither in Easthampton, Mass. in 2002 and Bither reports in a blog post on the sale that he never took a penny of investment capital to build the company--a highly unusual situation these days. Bither says that the company will stay in its current location with its all of its employees and will remain operating as autonomous unit (to the extent possible now that it's part of a larger company).
Bither will remain with the company for two more years as general manager.
For more information
- see the Kofax press release