Thursday, August 1, 2013

Kofax Buys Kapow Technologies

Irvine-based Kofax has acquired Kapow Technologies, a provider of data integration software, the firm announced Wednesday. Kofax said it will acquire Kapow for $47.5M in cash, minus around $1.4M in cash held by Kapow. Kofax said the acquisition will help grow its sales organization and accelerate its software revenue growth. Kofax said that Kapow's customers include such companies as Astra Zeneca, Audi, Commerzbank, Deutsche Telekom, Fiserv, Thomson Reuters and Zurich Insurance Group. Kapow has around 72 employees, and was located in Palo Alto. Kapow's investors included Steamboat Ventures and Morgan Stanley, among others. Kofax said Kapow had 2013 revenues of $15.9 million.