Foxit Software Announces Acquisition of Leading PDF Document Optimization Software Company CVISION
Establishes Foxit as the Leading Provider of PDF Compression, Conversion, and Optical Character Recognition
FREMONT, Calif. (August 8, 2017)— Foxit Software, a leading software provider of fast, affordable, and secure PDF solutions, today announced the acquisition of New York-based CVISION Technologies, a PDF software company. CVISION efficiently captures PDF documents and optimizes them through fast, accurate optical character recognition (OCR) processes powered by its patented technology. The company also utilizes advanced file compression technology to streamline PDF file size for more rapid file transmission, faster access to documents on mobile platforms, and cost-efficient document storage. The deal positions Foxit as best-suited to providing the broad range of PDF software solutions that businesses need to effectively manage their documents.
The acquisition of CVISION builds upon Foxit’s 2015 acquisition of Luratech Software and enables Foxit to gain global leadership in the high volume, enterprise automation market for PDF compression, OCR solutions, and conversion.
“This acquisition will allow Foxit to combine the best attributes of CVISION’s PDF software with our existing industry-leading solution to give our customers the best of both worlds,” said Carsten Heiermann, CEO of Foxit Europe and the Enterprise Automation business unit. “For example, CVISION delivers very high OCR accuracy recognition rates by leveraging advanced image processing techniques, so the processing engine is able to better recognize text where other engines fail.”
CVISION has thousands of corporate clients in a wide variety of industry sectors including finance, banking, accounting, legal, education and federal, state and local government. Some of the company’s notable PDF customers include Ford Motor Co., New York Stock Exchange, Chase, GE Power & Water, Bank of America, and Verizon.
The experience that Foxit Software has gained from prior acquisitions will ensure that the integration of CVISION’s PDF intellectual property into the Foxit solution portfolio will be rapid and seamless for all customers, regardless of their size.
“As always, the satisfaction of our customers will be our highest priority during the integration,” added Heiermann. “Indeed, Foxit Software is known for its high level of customer service and care. The team is confident that the inclusion of the CVISION team will only build on that level of customer engagement. CVISION’s PDF customers can be confident that this acquisition will be beneficial to the ongoing success of their businesses.”
Shortly before the acquisition closed, SoftWorks AI, LLC was created as a separate company to develop and sell the Trapeze family of office automation business products. The new company will be managed by Ari Gross, former president of CVISION.
About Foxit Software
Foxit is a leading software provider of fast, affordable, and secure PDF solutions. Foxit addresses the needs of three distinct market segments. For End-User Productivity, Foxit delivers easy to use desktop software, mobile apps, and cloud services to make knowledge workers more productive. ConnectedPDF is leading edge technology that powers document management, security, and collaboration services for PDF files. For Enterprise Automation, Foxit provides server software for large scale PDF document management and data capture. Foxit’s Developer Solutions enable developers to incorporate powerful PDF technology into their applications.
Foxit has over 475 million users and has sold to over 100,000 customers located in more than 200 countries. The company has offices all over the world, including locations in the US, Asia, Europe, and Australia. For more information, please visit https://www.foxitsoftware.com