Kofax announces OEM agreement with MobiFlex

Kofax, a provider of capture driven business process
automation solutions, announced that it has signed an OEM agreement with and
made a $500,000 minority investment in MobiFlex, a development stage company.

The minority investment is in the form of a note payable
due in two years and bearing interest at the rate of five percent per annum.

The OEM agreement provides Kofax with the basic software
tools and infrastructure needed to develop, market and deploy mobile capture
applications for customers wishing to utilize smartphones and tablet computers
as “point of origination” gateways into their Kofax solutions.

This will enable customers to use iPhones, iPads, Android
phones and Android tablet computers and cameras in those devices to input
information and capture images of documents and photographs.

“We evaluated a number of alternative approaches to
addressing mobile capture needs and selected MobiFlex as what we consider to be
the best fit with our software products and solutions. Our customers have
expressed a great deal of interest in these capabilities for some time now and
we’re excited about being able to meet this demand with the release our first mobile
capture software products during the first calendar quarter of 2012,” said
Reynolds C. Bish, chief executive officer, Kofax.

Under the terms of these agreements, MobiFlex has agreed
to provide maintenance and support services to Kofax and conduct certain
additional joint development efforts.

MobiFlex has granted Kofax the ability to ensure its
exclusive global right to this technology for document centric mobile capture
applications, and a fully paid up right to access and use the technology’s
source code in order to maintain, enhance and remarket the MobiFlex technology
should MobiFlex discontinue operations.

Field based case management applications like new account
openings, order entry and incident tracking are the type of mobile capture
applications where these new capabilities can enable point of origination
gateways into Kofax solutions.

it’s great to now partner with Kofax. I believe this
will prove to be a very strategic relationship for both companies,” said
Michael Kuperstein, founder and chief technical officer of MobiFlex.

Kofax recently announced it has been selected to provide
a Kofax solution for mortgage processing to a leading U.S. financial services
firm. The value of the contract to Kofax exceeds $1.2 million.

By Telecomlead.com Team

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