Kofax plc (LSE: KFX), a leading provider of capture driven business process automation solutions, today announced that it has entered into an OEM agreement with and made a $500,000 minority investment in MobiFlex, Inc., a development stage company whose ViziApps™ mobile platform enables the cost effective creation, publication and management of native applications for smartphones and tablet computers. Today’s announcement is the result of a joint development effort that began in early 2011 and creates the basis for a long term strategic partnership between the two companies.
Reynolds C. Bish, Chief Executive Officer, said: “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. As a result, we’re very pleased to now enter into these agreements with MobiFlex. 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.”
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. These can then be passed to Kofax workflows used to manage that content into their enterprise applications and repositories.
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. This would allow businesses and government agencies to accelerate business processes and be more responsive to their constituencies, thus increasing their competitive advantage or ability to provide a better level of service.
Michael Kuperstein, founder and Chief Technical Officer of MobiFlex, said: “I’ve known Reynolds since 1996 when Captiva acquired Symbus Technology, another company I founded earlier in my career. As a result of knowing one another for such a long period of time, it’s great to now partner with Kofax. I believe this will prove to be a very strategic relationship for both companies.”
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 note will automatically convert into MobiFlex equity on the same terms and conditions as a subsequent qualifying equity financing, but at a variable discount to the pricing of such financing, depending upon when it occurs.
Under the terms of these agreements, 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. In addition, MobiFlex has agreed to provide maintenance and support services to Kofax and conduct certain additional joint development efforts.
MobiFlex’s ViziApps mobile platform is a SaaS portal that enables users to create native and web mobile apps for smart phones and tablets, without coding, in a fraction of the time and cost of comparable custom developed apps. ViziApps has integrated the use of databases, web services and Google docs spreadsheets as easy-to-use backend data resources for mobile apps. ViziApps currently supports native apps for Android phones, iPhones and iPads, and web apps for any mobile device with a full browser. ViziApps is the first mobile application creation service available in the Google Apps Marketplace. For more information, visit www.viziapps.com