Mobiflex

Mobiflex

A brand name for TENOXICAM.
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M2 EQUITYBITES-December 1, 2011-Kofax signs OEM agreement with MobiFLex; makes USD0.5m investment(C)2011 M2 COMMUNICATIONS http://www.m2.com
Kofax plc (LSE:KFX.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.
MobiFlex's ViziAppstm mobile platform reportedly enables the cost effective creation, publication and management of native applications for smartphones and tablet computers.
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.
MobiFlex's ViziApps mobile platform is designed to enable the cost effective creation, publication and management of native applications for smartphones and tablet computers.
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.