Pulse2 Technology and Social Media News » Kofax Inc. http://pulse2.com Sun, 27 May 2012 19:13:16 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 Kofax Acquires 170Systems For $32.9 Million http://pulse2.com/2009/09/10/kofax-acquires-170systems-for-32-9-million/ http://pulse2.com/2009/09/10/kofax-acquires-170systems-for-32-9-million/#comments Thu, 10 Sep 2009 14:03:05 +0000 Amit Chowdhry http://pulse2.com/?p=20113 Continue reading →]]> 170-logo Picture 13
Kofax Inc. is a management software company that has just acquired 170Systems Inc. 170 Systems Inc. builds financial process automation software.  Kofax acquired 170 Systems for $32.9 million.  Of the $32.9 million, about $10.1 million was paid in cash and the rest in stock options.

170 Systems is based in Boston, MA and has about 140 employees.  170 Systems is a startup backed by Polaris Ventures.  Polaris invested $14 million in 170 Systems and they still had roughly $10.1 million cash in hand.  170 Systems’ revenues were about $28 million, but the company was not profitable. Kofax has roughly 1,200 employees and $300 million in annual sales.

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