Back to Blog

Kofax Acquires Softpro for its Electronic Signature Capture Software

This post has been superseded at finovate.com.

KofaxLogolarge.jpg

Mobile imaging software company, Kofax, recently announced it acquired Softpro, a company that specializes in fraud prevention and e-signature, for $35 million.

As part of the deal, California-based Kofax paid Germany-based Softpro $31.2 million in cash when the transaction closed on Monday. To complete the purchase, it will pay the remaining $3.5 million in three batches over the next two years.

KofaxScreenshot

Softpro’s e-signature software, SignDoc, processes 200 million electronic signatures every year, and boasts two major features:

1) Click-to-sign
2) Physical signature capture

With SignDoc added to Kofax’s quiver, services that require a contract, such as account opening, loan or mortgage applications, can be carried out entirely on the digital channel.

Kofax last presented at FinovateSpring 2014 where it debuted its retail gift card balance solution.