Clearlake Capital and TA Associates acquire Kofax
Wednesday 27th July, 2022
Kofax has announced that Clearlake Capital Group and TA Associates have completed their acquisition of the Company from Thoma Bravo. Financial terms of the transaction were not disclosed.
Reynolds C. Bish, Chief Executive Officer at Kofax, said. "Kofax has invested in its software and solutions to meet customers’ digital transformation needs as well as simplified cloud deployments and interoperability, expanded AI and machine learning, and enhanced user experiences to democratize automation for citizen developers. We’re grateful for Thoma Bravo’s partnership over the last five years and are excited for the next phase of our journey with Clearlake and TA. With their experience in driving growth through innovation and expansion, Kofax will continue to advance our software and solutions, expand our cloud services, and execute on our acquisition strategy.”
Headquartered in California, Kofax provides an intelligent automation software platform for enterprises to achieve digital transformation through document intelligence, process orchestration, AI, cognitive services, and connectivity to other software applications. Combining capabilities that address a multitude of use cases, Kofax offers customers a low-code software experience resulting in powerful solutions.
Behdad Eghbali, Co-Founder and Managing Partner, and Paul Huber, Managing Director, of Clearlake, said. “With the acquisition closed, we look forward to partnering with the Company to leverage our O.P.S.® framework and accelerate investment in cloud-based technology alongside product growth initiatives in robotic process automation and machine learning to deliver more value to customers, employees and shareholders.”
Harry Taylor, Managing Director, and Mike Libert, Director, at TA adds, “We’re thrilled to complete the acquisition of Kofax and, together with Clearlake, begin our new partnership with Reynolds and the Kofax team. We share a vision for Kofax’s next phase of growth, and believe our deep industry experience, operational knowledge and value-add capabilities will strengthen and expand the Kofax platform.”
J.P. Morgan, Jefferies LLC, Arma Partners, and Credit Suisse served as financial advisors to TA and Clearlake. J.P. Morgan also led a new syndicated financing in support of the acquisition, with Credit Suisse, UBS, Jefferies LLC, Blackstone, PSP Partners, Security Benefit, and Brinley acting as joint arrangers on the financing. Kirkland & Ellis and Sidley Austin provided legal counsel to TA and Clearlake.