Not sure what is going on at the Kofax's European user/reseller event being held this week in Barcelona, but since Friday the company's stock value has risen more than 12%. Kofax, which is based in Irvine, CA, but traded on the London Stock Exchange due to its roots as a European hardware distributor (Dicom, which bought U.S.-based ISV Kofax in 1999), closed today with a value of 325 British pounds per share and a market cap of close to $440 million US dollars (up more than 20% from when current Kofax CEO Reynolds Bish was hired in late 2007.)
There was this announcement, which sums up some of the improvements made in various Kofax products like VRS, the KTM modules, and the MarkView for Accounts Payable software acquired with 170 Systems, but it doesn't seem like anything major. We'll look forward to catching up with Kofax execs at next week's North American Transform event. Hopefully we'll have better luck getting there than we did this week, when editor Ralph Gammon was grounded in Erie, PA on his way to the Laserfiche Institute event in LAX.
Subscribe to:
Post Comments (Atom)
7 comments:
Kofax here in Hungary went down in the past years. Good technical and sales person work another companies today. There is not local Kofax partner events, product shows, fresh price list etc.
But I was on the DMS Expo in Stuttgart in October, and I saw, that Kofax has a lot of partners in Germany, but I didn't see a lot of visitors in their stands.
I think that the customer's focus is on the mobile computing with imaging/capture/data collection capabilities. It's a hard thing to show anything new to the customers on the traditional document imaging market now.
Kofax needs to come up with a cloud based ocr/capture product otherwise they'll be left in the dust.
Interesting thought about cloud-based capture products. I am working on a story about it now. Anyone have thoughts as to how fast we are moving that way.
Kofax going to sell his Hardware´s bussines in Europe to an Inversors group. They going to call to the new company.... Dicom!!!!
It´s funny, after the purchase of Dicom to Kofax, Dicom returns to market!!!
IRVINE, Calif.--(BUSINESS WIRE)-- Kofax plc (LSE:KFX.l - News), the leading provider of document driven business process automation solutions, today announces it has entered into a definitive agreement to sell its hardware business to Hannover Finanz, a private equity firm headquartered in Germany, and to members of the business unit’s management team. The transaction is expected to yield at least $20 million of net after tax cash proceeds to Kofax and close during March of 2011.
Reynolds Bish destroyed this dominant market leader division succesfully.
I don't know if "destroyed" is the proper word. Kofax's fiscal 2010 revenue was pretty good and I have been hearing a lot better reviews of KTM (intelligent capture) stuff than in the past. I would say he has somewhat rebuilt the company - and you need to do a certain amount of tearing donw to rebuid, but the rebuilt entity seems to be doing alright - with reportedly better than expected revenue to be reported for the first half of fiscal 2011 - at least for the software business.
Post a Comment