Kofax counts $400 million down for large division of Nuance

Today Nuance announces that it sells its imaging division. Kofax takes over the department for $400 million and pays cash for it. So there is no construction with shares. The deal is expected to be completed in the first quarter of 2019.

The acquisition is a remarkable move for Kofax, which last year itself was acquired for 1.5 million dollars by Thoma Bravo. The company is trying to strengthen its Robotic Process Automation (RPA) offering. Before that, it had already released machine learning, computer vision and other tools that work with artificial intelligence. The purpose of all these tools: to let artificial intelligence perform the repetitive actions that were performed by people in the past.

Voice recognition and imaging

Nuance is currently a leading company in the field of voice recognition services. It has worked with Apple on Siri in the past and offers a number of AI solutions that help companies develop their own AI offering.

The imaging division accounted for about 11 percent of last year’s sales. But Nuance has repeatedly indicated that it wants to focus its business on more profitable companies. That’s why it’s fully committed to healthcare, business solutions and automotive.

Acquisition by Kofax

Nuance Document Imaging, as the division’s official name is, is not one of them. The department offered services such as security and compliance in the field of all forms of image scanning and printing that take place in an organisation. Kofax, one of the largest companies of its kind, would like to do more with this.

CEO Reynolds C. Bish states in a statement that the acquisition will increase the value of Kofax for its customers. It adds key techniques, including cloud compatibility, scan-to-archive, scan-to-workflow, print management and document security, to our end-to-end Intelligent Automation platform.