BIRMINGHAM, AL (July 6, 2021) – Founders is pleased to announce that PSIGEN Software, Inc. (PSIGEN) has been acquired by Kofax, Inc. (Kofax), a leading supplier of Intelligent Automation software for digital workflow transformation and portfolio company of Thoma Bravo. PSIGEN’s document capture software – PSIcapture – and its content management software – PSIsafe – offer robust capabilities and specific application solutions, such as quote-to-cash, accounts payable and accounts receivable, in an easy-to-deploy and cost-effective manner. The products are available via on-premises perpetual, on-premises term and cloud-based SaaS subscription licensing models and are primarily sold through authorized resellers and distributors throughout North America and other regions. PSIGEN was exclusively advised on the transaction by principals of Founders Advisors. Polsinelli PC was the exclusive legal advisor to PSIGEN.
For over 25 years, since its inception as GenSoft in 1995, PSIGEN has focused on providing business process automation solutions through its world class data capture software. In 2017, PSIGEN merged with Cabinet Document Management Solutions and its flagship SAFE product (now PSIsafe). With over 1,600 customers at the time of its acquisition by Kofax, PSIGEN had been serving a wide variety of end-markets with its solution set domestically and abroad.
“We’re thrilled to join Kofax and become a part of their impressive intelligent automation portfolio,” says Bruce Hensley, PSIGEN’s founder and Chief Executive Officer. “PSIGEN’s customers will benefit from Kofax’s much larger resources and global reach, and together we’ll be able to offer customers the broadest range of software and solutions in the marketplace to accelerate their digital workflow transformation journeys.”
“We’re very pleased to welcome PSIGEN’s customers, partners and employees into the Kofax family and want to assure them that we’ll continue to sell, develop and support PSIGEN’s software and solutions,” says Reynolds C. Bish, Kofax’s Chief Executive Officer. “This acquisition adds to our existing document capture software and solutions, further extends our leadership position in the capture market, adds content management software and solutions to our product portfolio, increases our customer and partner ecosystem and enhances our intelligent automation platform.”
“PSIGEN has built an impressive platform over the last two decades capable of and flexible enough to serve the workflow automation needs of nearly any customer, from SMB to enterprise,” said Zane Tarence, Managing Director at Founders Advisors. “We enjoyed working with the PSIGEN team to find a home that will continue to provide best-in-class service and support for their customers continued growth and BPA needs. We appreciate Bruce, Victoria and Abe’s trust in Founders and thoroughly enjoyed working with their impressive team throughout the process.”
About Founders Advisors
Founders is a merger, acquisition, & strategic advisory firm serving middle-market companies. Founders focuses on helping companies across technology, business services, consumer, energy, healthcare, and industrial industries. Founders’ skilled professionals, proven expertise, and process-based solutions help companies access growth capital, make acquisitions, and/or prepare for and execute liquidity events to achieve specific financial goals.
About Kofax, Inc.
Kofax enables organizations to Work Like Tomorrow™—today. Our Intelligent Automation software platform and solutions digitally transform content-intensive workflows. Customers realize faster time-to-value and increased competitiveness, growth and profitability by combining Kofax’s cognitive capture, RPA, process orchestration, analytics and mobile capabilities while increasing business resiliency and mitigating compliance risk. For more information, visit www.kofax.com.