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Tuesday, 07 April 2015 00:00

Xerox Statement Leaves Door Open for Kofax Bid

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Here's the statement I received from Xerox after asking for a comment on Lexmark's $1B bid to acquire Kofax: "While we cannot comment on Lexmark’s decision to acquire Kofax, we can say that today we are more confident than ever in our capability to deliver outstanding Next Generation Managed Print Services, Document Outsourcing and workflow to our customers and prospects. If and when the transaction is completed, we will re-evaluate our strategic partnership with Kofax. In the meantime, we will continue to maintain our partnership with them to support existing customer engagements where Kofax has been adopted. We are committed to open standards and when customers choose Xerox and another partner or competitor, we will work diligently to ensure that their environment works flawlessly." Sounds to me like their might be conversations brewing within Xerox to make a higher bid, as I don't know what else could prevent the transaction…
The following is a correspondence between Ralph Gammon, the editor of the Document Imaging Report, and Paul Carman, President and CEO of Xamcor, discussing what this deal means to the companies involved, as well as the industry as a whole. Ralph Gammon of DIR: So, no surprise that an MFP vendor has announced plans to acquire Kofax. What is surprising is that it was Lexmark, instead of Xerox Paul Carman of Xamcor: I agree. Of course, it’s no surprise that Lexmark made another software acquisition , as they have been very active in building their software capabilities. However, Kofax does come as a bit of a surprise. With Brainware, an earlier acquisition, and then ReadSoft closing some months ago, the capture space didn’t seem to be the next logical area of opportunity. To read the rest, please click through to the Xamcor site. Part II of the interview, in which…
Tuesday, 24 March 2015 00:00

Lexmark Goes All In on Capture

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Wow. That really caught me by surprise. About 4:30 today it was announced that Lexmark was acquiring Kofax for $1B net of cash. I was just finishing up my Kofax Transform conference story and about to start writing my piece about how Xerox was going to integrate the Kofax technology into its organization. It really made a compelling story. And the rumor circulating around AIIM last week, was the the Xerox-Kofax deal was going to close any day...Then I heard something about Kofax asking for too much, and the next thing I know Lexmark announced it had made a bid of $11 per share, or about a 47% premium over what the Kofax stock was trading at today. It's also more than 3x Kofax's 2014 reported non-GAAP reported revenue of $297M -so from that perspective it's not a bad deal. There is a lot to like about this deal from…
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