Tuesday, September 8, 2009

Kofax Buys Software Firm

Irvine-based Kofax, a developer of document management software, said over the weekend that it has acquired 170 Systems, a venture backed provider of financial process automation software. The deal was worth $32.9M. 170 Systems is based in Boston, Mass., and has about 140 employees; the firm was venture backed by Polaris Venture Partners.