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OptiInvoice Digital Technology acquired by Kofax plc
Dotcom startup attracts market leader's attention

Optiinvoice software allows electronic invoices and other documents to be digitally encrypted and transmitted or submitted via e-mail and other data streams in standard text, image and extensible markup language (XML) file formats. It then allows the recipient to accept and process those same files.

Optiinvoice software eliminates the need to print, mail, receive and process paper-based invoices and other documents, thereby significantly reducing otherwise manual labour processes and costs, improving the accuracy of the related data and accelerating processing times. This enables better accounts payable management to ensure that all application terms, conditions and discounts are fully utilized.

The adoption of electronic invoice and other document processing software is accelerating and organisations are in need of a capture solution capable of accommodating both paper and electronic formats.

The combination of Optiinvoice software with existing Kofax software addresses the market requirements. Optiinvoice and Kofax software products have been successfully integrated, and the integrated solution will be released during the current calendar quarter.

Kofax has paid 2.00 million Euros (GBP1.57 million) in cash upon the closing of the acquisition, a portion of which will be held in escrow for a period of time. Further conditional payments estimated to be in the range of 1.31 million Euros up to a maximum of 10.00 million Euros (GBP1.03 to GBP7.84 million) may be made during the ensuing 4 years subject to the achievement of certain performance criteria and the retention of certain employees.

Publisher Contact Information:

+46 705 09 39 43

Company profile of Optiinvoice AB
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