Kofax acquires Softpro for e-signature services

Kofax acquired all of Softpro’s stock for total consideration of USD 34.7 million. The company expects to complete the integration of Softpro by the end of calendar year 2014.

Many First Mile interactions require signatures, and Softpro’s software will help speed and instill confidence by enabling organizations to offer a fully digital experience.

A 2013 American Bankers Association report states that attempted fraud involving deposit accounts reached USD 14.8 billion in 2012. FraudOne, Softpro’s signature verification and fraud detection software, protects bank and depositor assets by verifying signatures and detecting fraud before funds can be accessed for more than 25 million checks every day.

Kofax is a provider of smart process applications for the business critical First Mile of customer interactions.