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Kofax Shows Off Cloud Service Built on Acquisitions

Business software maker Kofax PLC has launched the most significant product rollout in its 28-year history.

The company, which is publicly traded in London but maintains its headquarters in Irvine, has released a cloud-based service aimed at turning initial customer engagements into long-lasting business relationships.

Kofax TotalAgility 7.0 combines the company’s image capture technology with business process management and case management, data integration, analytics and mobile services.

The product links a company’s internal software, such as records systems, accounts, loan applications and health care records, with its customer engagement strategy in an effort to improve agility and responsiveness without changing existing software systems.

The company bills the line, which is available in a variety of licensing and subscription options, as simplifying processing, reducing operating costs and driving growth and profitability.

ERP, CRM and other legacy software that runs business operations weren’t designed for today’s customer, who wants seamless communication, Web access and smart applications in real time, according to Howard Dratler, executive vice president of field operations at Kofax.

“They want it fast, they want it easy, they want it seamless and automated and on their mobile device,” Dratler told a crowded conference room at LA Live during the product announcement this month. His audience included business executives, as well as news reporters. “There is an enormous disconnect from what your customer wants and what you can deliver.”

Kofax spent more than $125 million and about three years to develop the technology, which it largely acquired through acquisitions.

Its $47 million buy of Palo Alto-based Kapow Software in July provided the big-data integration; the $13.5 million cash buy in March of Altosoft Inc. in Pennsylvania provided analytics and business intelligence capabilities; and its September 2011 acquisition of Northern Ireland-based Singularity Ltd. for up to $46.6 million provided the business process management foundation the technology is built on.

Kofax has long considered a move to the American stock exchange and began the process this month by filing a registration statement with the Securities and Exchange Commission for a public offering on the Nasdaq.

The company marked a 5% rise in profit from continuing business to $16 million in its fiscal 2012, which ended June 30. Revenue hit a company record $262.5 million, up 8%.

It says 20,000 government and commercial customers use its core scanning software to streamline the flow of information, eliminate paper, speed up productivity, reduce costs and improve customer service.

Econolite ITS Inductee

Anaheim-based Econolite Group Inc., one of OC’s oldest companies, is the first U.S. inductee into the Intelligent Transport Systems World Congress Hall of Fame.

The company was presented with the industry award at the 20th ITS World Congress in Tokyo this month for its pioneering and innovative work on advanced transportation management systems.

Econolite makes traffic signals and more complex electronics and software, including vehicle detection systems, road and freeway cameras and traffic control cabinets. It has deployed more than 120 systems that control more than 20,000 intersections around the globe.

The company started as a small toy and specialty lighting company in 1933 in the heart of the Great Depression. As the story goes, Leo Jennings, an electrician for the city of Beverly Hills, asked partners Arthur Loomis and Charles Chase if they could create a stop sign with a built-in flashing red light controlled by a solar on-off switch.

A light bulb went off, and the first version of “econolite” was born.

The company later became the installation contractor for General Electric Co.’s traffic signal unit and distributed GE’s traffic products.

Econolite moved to its Anaheim site on East La Palma Avenue in 1971. In 1978, Chief Executive Mike Doyle led a buyout of the company.

Privately held Econolite doesn’t disclose revenue. The Business Journal estimates yearly sales at about $50 million.

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