View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
December 29, 1999

Dicom’s Neuer Markt Offer to Finance Kofax Buy

By CBR Staff Writer

Dicom Group Plc, the Berkshire, UK-based electronic document management products and services company, has announced the final stage of its plan to finance the acquisition of Irvine, California-based Kofax Image Products Inc by raising more than $35m by the issue of 7,500,000 new shares on the Frankfurt-based Neuer Markt. Dicom says that the strategy of the enlarged group is to be the first global electronic data management company in a fragmented market.

Because Kofax was too big to devour at one bite, Dicom announced in July a complicated deal whereby an equity vehicle set up by Dresdner Kleinwort Benson took over the company for $70.5m (CI No 3,713). Dicom took over 18.3% of the company at that time with an option to acquire the remaining shares over the following 18 months.

The Neuer Markt share issue will help Dicom acquire the remaining 81.7% though directors say they will only proceed with the offering, scheduled for the end of January, provided it raises $35m net of expenses.

According to figures released by Dicom, Kofax increased net income by 49.3% to $4.6m in the year to June 30 on sales up 14.1% at $38m. The main reason for the sales increase was increased demand for its Ascent software that provides document capture, data capture and internet-based distribution capture in one application.

Content from our partners
Scan and deliver
GenAI cybersecurity: "A super-human analyst, with a brain the size of a planet."
Cloud, AI, and cyber security – highlights from DTX Manchester

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.