LOS ANGELES and ORANGE COUNTY, Calif., Sept. 2, 2014 /PRNewswire/ -- B. Riley &
Co., LLC, (B. RILEY) (www.brileyco.com) a leading investment bank
providing a full array of corporate finance, research, sales and
trading services, has served as exclusive financial advisor to
Kofax Limited (NASDAQ and LSE: KFX) in its acquisition of
Softpro GmbH.
The transaction closed September
1, 2014. Kofax acquired all of Softpro's stock for
total consideration of $34.7 million
in cash. Of this amount, $31.2
million was paid as part of the closing of the transaction.
An additional $1.1 million will be
paid 90 days after closing, $1.2
million will be paid one year from closing and $1.2 million will be paid two years from closing,
with said amounts being subject to certain indemnification terms
and conditions.
B. RILEY's Managing Director Adam
Little initiated the transaction and led the banking team on
behalf of Kofax.
B. RILEY's experience in the e-signature space "allowed us to
identify Softpro as a highly respected e-signature company which
was well aligned with Kofax's business growth strategies," said Mr.
Little. "Kofax has done a tremendous job building out a suite
of innovative, world class business process solutions.
Softpro's unique technologies and global customer base will make an
excellent complement to the Kofax offering."
Irvine, California-based Kofax
(www.kofax.com) is a leading provider of smart process applications
for the business critical First Mile of customer interactions.
These begin with an organization's systems of engagement, which
generate real time, information intensive communications from
customers, and provide an essential connection to their systems of
record. Kofax services more than 20,000 customers in financial
services, insurance, government, healthcare, business process
outsourcing and other markets. Kofax operates in more than 75
countries throughout the Americas, EMEA and Asia
Pacific.
Headquartered in Boeblingen near Stuttgart, Germany, Softpro (www.softpro.de)
is highly specialized in its particular niche of trustworthy
processing handwritten signatures in digital workflows. The company
develops and markets tools, products and solutions for digital
capture, management and verification of signatures. Softpro
solutions currently are used in more than fifty countries on
five continents, in the following industries: Banking, Insurance,
Retail, Telecommunications, Public Administration and Health
industries, among many others.
About B. RILEY:
B. Riley & Co. LLC, (B. RILEY) is a leading investment
bank which provides corporate finance, research, and sales &
trading to corporate, institutional and high net worth individual
clients. Investment banking services include initial, secondary and
follow-on offerings, institutional private placements, and mergers
and acquisitions advisory to public and private companies. The firm
is nationally recognized for its highly ranked proprietary equity
research.
B. RILEY recently combined with Great American Group, Inc.
(OTCBB:GAMR), a leading provider of advisory and valuation
services, asset disposition and auction solutions, capital
investment, and real estate advisory services.
B. RILEY is headquartered in Los
Angeles and maintains offices in New York, San
Francisco and Newport Beach. It is a member of FINRA
and SIPC. For more information, please visit
www.brileyco.com or call 310-966-1444.
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SOURCE B. Riley & Co., LLC