Peladon Software, out of San Diego, has got a pretty nice buyout from U.K.-based DRS. Peladon is the intelligent forms processing sofware developer that was founded by some former Mitek employees, as well as a U.K.-based Mitek partner. Peladon has created a fairly effective IDR application working with a variety of recognition engines. Peladon has a "high-confidence character inspection" module that we featured in a post-AIIM issue.
Peladon seemed to have a decent install base in the U.K. and had one big U.S. customer in SunGard. They sold the company for what looks like $4-5 million to English service bureau and forms processing sysems specialist DRS. DRS, to me, seems like an English version of Scantron.
DRS paid a good healthy price(about 2 1/2 times revenue). I also think Peladon has some good software. This is more evidence of the health of the capture space and the valuation that some of the advanced technologies have. RG
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment