Kofax to acquire Top Image Systems for $16m.

Kofax, a leading supplier of Intelligent Automation software to automate and digitally transform end-to-end processes, and a portfolio company of leading private equity investment firm, Thoma Bravo, agreed to acquire Top Image Systems, a global innovator of intelligent content processing solutions Under the terms of the agreement, Top Image Systems stockholders will receive $0.86 per share in cash for each ordinary share of Top Image Systems, representing a 65% premium over Top Image Systems' volume weighted average price (VWAP) over the past 30 trading days. Brendan F. Reidy, Chief Executive Officer of Top Image Systems, commented: “We are pleased to announce this transaction with Kofax. The transaction will allow Top Image Systems to continue to provide its innovative content processing and remittance solutions to our customers while benefitting from the substantial resources of Kofax and Thoma Bravo. Our Board of Directors believes this transaction is in the best interest of our stockholders.”