While the dealer space has been somewhat quiet in recent months, a major manufacturer (Xerox) and leading software firm (Kofax) put the finishing touches on deals announced this week.
In a move aimed at bolstering its presence in the U.S. SMB market, Xerox has acquired Document Systems, a leading document solutions provider in Southern California. Terms of the transaction were not disclosed.
“We’re focused on strengthening our U.S. small and midsize business (SMB) market reach through the combined power of our portfolio of workplace solutions for SMBs and well-established local technology providers,” said Joanne Collins Smee, chief commercial, SMB and channels officer at Xerox. ”As part of Xerox Business Solutions (XBS), Document Systems’ document management expertise will help us elevate the customer experience, improve productivity and power growth for SMBs.”
SMBs turned to automation, digitization and security to emerge stronger from the pandemic, according to Xerox’s State and Fate of Small and Medium Business survey. Eighty-five percent were more reliant than ever before on communication technologies, remote IT support, and security hardware and software.
Document Systems will become part of Xerox Business Solutions, aligned to the XBS West region, and provide Xerox solutions targeted at SMBs that support collaboration, communication, remote IT support, security and automation.
This is Xerox’s third acquisition in North America in the last year, following the purchase of Groupe CT last month and Digitex in March 2020 to expand to the eastern and western Canadian markets, respectively.
Mike Dudek and Rich Wisniewski of Zygoquest Group served as the advisor to Document Systems and its owners—George Dauphine, Greg Frank, Joe Escamilla, and John Parisi.
Kofax Obtains PSIGEN
Kofax, a leading supplier of Intelligent Automation software for digital workflow transformation, announces it has acquired PSIGEN Software Inc., a provider of document capture, content management and workflow automation software and solutions.
“We’re very pleased to welcome PSIGEN’s customers, partners and employees into the Kofax family and want to assure them that we’ll continue to sell, develop and support PSIGEN’s software and solutions,”says Reynolds C. Bish, Kofax CEO. “This acquisition adds to our existing document capture software and solutions, further extends our leadership position in the capture market, adds content management software and solutions to our product portfolio, increases our customer and partner ecosystem and enhances our intelligent automation platform.”
PSIGEN’s document capture software, PSIcapture, and its content management software, PSIsafe, offer robust capabilities and specific application solutions, such as quote-to-cash, accounts payable and accounts receivable, in an easy-to-deploy and cost-effective manner. The products are available via on-premises perpetual, on-premises term and cloud-based SaaS subscription licensing models and are primarily sold through more than 800 authorized resellers and distributors throughout North America and other regions.
“We’re thrilled to join Kofax and become a part of their impressive intelligent automation portfolio,” says Bruce Hensley, PSIGEN’s founder and CEO. “PSIGEN’s customers will benefit from Kofax’s much larger resources and global reach, and together we’ll be able to offer customers the broadest range of software and solutions in the marketplace to accelerate their digital workflow transformation journeys.”
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About Xerox Holdings Corporation
For more than 100 years, Xerox has continually redefined the workplace experience. Harnessing our leadership position in office and production print technology, we’ve expanded into software and services to sustainably power today’s workforce. From the office to industrial environments, our differentiated business solutions and financial services are designed to make every day work better for clients — no matter where that work is being done. Today, Xerox scientists and engineers are continuing our legacy of innovation with disruptive technologies in digital transformation, augmented reality, robotic process automation, additive manufacturing, Industrial Internet of Things and cleantech.
About Kofax
Kofax enables organizations to Work Like Tomorrow—today. Our Intelligent Automation software platform and solutions digitally transform content-intensive workflows. Customers realize faster time-to-value and increased competitiveness, growth and profitability by combining Kofax’s cognitive capture, RPA, process orchestration, analytics and mobile capabilities while increasing business resiliency and mitigating compliance risk.
About Document Systems
MCP of California Inc., dba Document Systems, was owned and operated by George Dauphine, Greg Frank, Joe Escamilla, and John Parisi. Document Systems, headquartered in Oxnard California with branch offices in Burbank and La Mirada, was founded in 1994. It is a full-line authorized Ricoh and Canon dealer, providing office equipment, document solutions and services throughout Santa Barbara, Ventura, and Los Angeles counties in Southern California. Document Systems also was authorized by and sold HP and Lexmark printers and MFPs, along with DocuWare, URM and GoldFax document management, scanning and software solutions.
About Zygoquest Group and Mike Dudek
Mike Dudek, an attorney and CPA, is the owner of Zygoquest Group “seeking to unite” which provides customized merger & acquisition services to buyers and sellers of companies. Zygoquest is the No. 1 M&A authority in the office products industry. Dudek and Rich Wisniewski are authors of over 500 consummated M&A transactions, including many technology services acquisitions during their careers. Prior to founding Zygoquest, Dudek was vice president of acquisitions for IKON Office Solutions, a $5.5 billion NYSE company acquired by Ricoh Corporation. Dudek has evaluated transactions ranging from the smallest to the largest deals in the office products industry, from million-dollar deals to multi-billion-dollar deals. The Zygoquest website contains deals you will recognize.
About Law Office of Mike Dudek
Mike Dudek also owns the Law Office of Mike Dudek, which provides owners and executives with customized and affordable legal services on mergers and acquisitions and other complex business transactions.
