Kofax Buys Business Intelligence Software Developer Altosoft

Irvine-based document capture software firm Kofax announced this morning that it has acquired business intelligence and analytics software developer Altosoft. Kofax said it paid $13.5M in cash for Altosoft, which was headquartered in Media, Pennsylvania. According to Kofax, Altosoft had unaudited, 2012 revenues of $3.4M. Altosoft becomes a wholly owned subsidiary of the company. Altosoft is a developer real time reporting and dash board applications, and had 43 employees and contractors working for the firm.