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Thoma Bravo to Sell Kofax, Provider of Business-Workflow Solutions

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On April 26th, Kofax, a provider of business-workflow automation solutions, announced that it’s entered into a definitive agreement to be acquired by Clearlake Capital Group and TA Associates from Thoma Bravo, a private-equity firm, that owns Kofax. Terms of the transaction were not disclosed. Upon closing of the transaction, Clearlake and TA will become majority shareholders in Kofax. 

Founded in 1985, Kofax, which was previously a part of Lexmark International and was acquired by Thoma Bravo, is said to be one of the largest suppliers in the process-automation market, supporting more than 25,000 customers worldwide. The company’s solutions are said to help organizations digitally transform information-intensive business processes, reducing manual labor, errors, and costs, while also mitigating compliance risk. Kofax combines robotic process automation, cognitive capture, process orchestration, mobility, engagement, and analytics to ease implementations and generate more efficient outcomes.

Over the course of Thoma Bravo’s five-year partnership, Kofax has introduced several new software solutions, closed multiple acquisitions, and improved back-end operations, which is said to contribute to  rapid growth in the company’s customer base, strong recurring revenue, and leadership position in the automation-software market.

Kofax CEO Reynolds C. Bish, commented: “Clearlake and TA offer industry knowledge and experience scaling enterprise software companies like ours. These resources will be critical as we strive to further grow the company and bring added value to our customer base, with a focus on developing and expanding our product portfolio.”

The transaction is expected to close in the third quarter of 2022, pending customary closing conditions.

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