Acquisition of Top Image Systems by Kofax Closes
May 06 2019 - 9:00AM
Top Image Systems Ltd. (the “Company” or “Top
Image Systems”) (Nasdaq:TISA) announced today the closing of its
acquisition by Kofax, a leading supplier of Intelligent Automation
software to automate and digitally transform end-to-end processes,
and a portfolio company of Thoma Bravo, a leading private equity
investment firm.
Under the terms of the agreement, Top Image Systems’
shareholders will receive merger consideration in the amount of
$0.86 in cash for each share of Top Image Systems ordinary stock
they hold (without interest and subject to any applicable
withholding taxes or other amounts required to be withheld
therefrom under applicable law). American Stock Transfer &
Trust Company has been appointed as paying agent in connection with
the merger and will be mailing a letter of transmittal to all Top
Image Systems shareholders of record within two business days. The
letter of transmittal will instruct shareholders on how to
surrender their shares of Top Image Systems ordinary shares in
exchange for the merger consideration.
The transaction was announced on February 4, 2019 and received
approval from Top Image Systems shareholders on April 4, 2019. As a
result of the completion of the transaction, shares of Top Image
Systems ordinary stock were removed from listing on the NASDAQ
Stock Exchange (“NASADAQ”), with trading in Top Image Systems
shares suspended prior to the opening of business today.
About Top Image Systems Top Image
Systems™ (TIS™) Ltd. is a global innovator of
on-premise and cloud-based applications that
optimize content-driven business
processes such as procure to pay
operations, remittance processing,
integrated receivables, customer response
management and more. Whether originating
from mobile, electronic, paper or other
sources, TIS solutions automatically capture, process and deliver
content across enterprise applications, transforming information
entering an organization into useful and accessible electronic
data, delivering it directly and efficiently to the relevant
business system or person for action with as little manual handling
as possible. TIS’ solutions are marketed in more than 40 countries
through a multi-tier network of distributors, system integrators,
value-added resellers and strategic partners. Visit the
company's website
at https://www.topimagesystems.com/ for
more information.
TIS Investors Contact: James Carbonara,
Regional Vice President, Hayden IR james@haydenir.com + 1 646
755 7412
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