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L), a provider of capture driven business process automation solutions, today announced that it has entered into an OEM agreement with and made a USD500,000 minority investment in MobiFlex Inc.
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.
Kofax plc (LSE:KFX), a provider of capture driven business process automation solutions, announced on Thursday that it has entered into an OEM agreement with development stage company MobiFlex Inc and made a USD500,000 minority investment in the company.
This new agreement between Kofax and MobiFlex is the result of a joint development effort that began in early 2011 and creates the foundation for a long-term strategic partnership between the two companies.
The note will 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.
Entered into an OEM agreement with and invested in Mobiflex, creating the basis for a long term strategic partnership and the recently announced Kofax Mobile Capture software product
Two of the more notable events during the quarter and six months were the acquisition of Singularity and our entering into an OEM agreement with and investing in Mobiflex.
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.
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.
The product is also marketed under the brand names Mobiflex, Tilatil, Tilcitin, and Alganex.
The product is also marketed using the trademarks Mobiflex, Tilatil, Tilcitin and Alganex.
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