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Kofax Names New Chief Financial Officer

5 May, 2010

Kofax Names New Chief Financial Officer


IRVINE, CA (MAY 5, 2010) – Kofax, a leading provider of document driven business process automation solutions, today announced the appointment of James (“Jamie”) Arnold, Jr. as its Chief Financial Officer. Mr. Arnold will start no later than June 16, 2010, work out of the company’s headquarters in Irvine, CA, and replace Stefan Gaiser, who will continue as a Kofax employee through December 31, 2010 to ensure a smooth transition of his responsibilities. Pending approval by Kofax’s Board of Directors, Mr. Arnold will also be appointed to the company’s Board following his start date.

Mr. Arnold possesses almost 30 years of executive financial management experience. Most recently, he was with Nuance Communications, Inc., a leading provider of speech and imaging solutions, where he was a Senior Vice President and Chief Financial Officer from September 2004 through August 2008, and then a consultant through September 2009. During his tenure, Nuance increased revenues from less than $200 million to approximately $900 million per year as a result of organic growth and multiple acquisitions. In addition, during this period, cash flow from operations increased from approximately $6 million to almost $200 million per year, reflecting the company’s focus on increased productivity and efficiency. From 2003 to 2004, Mr. Arnold was Vice President and Corporate Controller at Cadence Design Systems, Inc. From 1997 to 2003, he held several senior financial management roles at Informix Software, Inc. including Vice President and Chief Financial Officer, and from 1995 to 1997, he served as Corporate Controller at Centura Software Corporation. Mr. Arnold initiated his career at PricewaterhouseCoopers and possesses a bachelor of finance degree from Delta State University and an MBA from Loyola University.

"I’m excited to join Kofax, as the company has an established history of innovation and leadership in delivering high value document capture solutions, and more recently has transformed itself into a global enterprise software company," said Mr. Arnold. "Kofax is well positioned for continued growth and I look forward to contributing to its success in the months and years ahead."

"We’re extremely pleased to welcome Jamie to Kofax's executive management team. He brings a wealth of relevant experience and a deep understanding of the inherent challenges in a rapidly growing enterprise software company," said Reynolds C. Bish, Kofax’s Chief Executive Officer. "I would also like to use this opportunity to express both my and the Board of Directors’ sincere appreciation to Stefan for his outstanding service as our Chief Financial Officer for the last 10 years. His professional attitude and outstanding work ethic have made our recent progress possible, and he has made significant contributions to our success."

About Kofax
Kofax is the leading provider of document driven business process automation solutions. For more than 20 years, Kofax has provided award winning solutions that streamline the flow of information throughout an organization by managing the capture, transformation and exchange of business critical information arising in paper, fax and electronic formats in a more accurate, timely and cost effective manner. These solutions provide a rapid return on investment to thousands of customers in financial services, government, business process outsourcing, healthcare, supply chain and other markets. Kofax delivers these solutions through its own sales and service organizations, and a global network of more than 1000 authorized partners in more than 60 countries throughout the Americas, EMEA and Asia Pacific. For more information, visit www.kofax.com.




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