British based Kofax PLC acquires New England’s 170 Systems (September 10, 2009)
Despite the ripple effect of the recession, transatlantic business is booming, particularly between Massachusetts and the UK. Kofax PLC, a leading document management solutions provider, announced on September 7 that it has acquired Massachusetts-based 170 Systems. This acquisition highlights just how seriously the UK considers Massachusetts’s unique innovation ecosystem.
British firm buys 170 Systems for $33M
Process automation software company 170 Systems Inc. has been bought by a partner, U.K.-based Kofax PLC, for $32.9 million in a combination of cash, notes and future consideration payments.
Bedford-based 170 Systems provides the 170 MarkView Financial Suite, an invoice and accounts payable workflow software, that has previously integrated Kofax’s electronic invoice capture software as part of the overall MarkView suite.
Read the full article at Mass High Tech.
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Transatlantic business is booming, particularly between Massachusetts and the UK