Kofax Reports on Possibly Acquiring Tungsten Corporation

Kofax, a supplier of intelligent-automation software for digital workflow transformation, confirmed today that it’s been in discussions with Tungsten Corporation regarding its possible acquisition of Tungsten for £50.6 million ($67.5 million).

Tungsten has confirmed the offer. By law, Kofax must, by no later than January 11, 2022, either announce a firm intention to make an offer for Tungsten, or announce that it does not intend to make an offer. It may also lower its offer.

Tungsten is a London-based firm that provides the world’s largest business-transaction network. The Tungsten Network is said to connect buyers and sellers for easier, faster, and safer global trade. Customers can automate and digitize complex invoicing processes. Its secure network includes a majority of Fortune 500 companies.

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