Kofax, a product-development subsidiary of DICOM Group, has announced the acquisition of Mohomine, a company that focuses on data extraction and classification.
Mohomine's specialty is the capture of unstructured data, a technology with many implications for CRM vendors and users of CRM software. The company has produced two different solutions--MohoClassifier and MohoExtractor--each designed to help companies examine and filter relevant information from unstructured documents within an enterprise.
According to research from Gartner, approximately 80 percent of all enterprise data is unstructured, making it a huge potential source for information relevant to CRM initiatives. Unstructured data is defined as documents where the location within the document of salient information cannot be predicted. Web pages, PDF files, and emails are examples of such documents.
Even with picking up Mohomine Kofax's Andrew Macciola, vice president of marketing, expressed his belief in the need for improving data capturing technology.
"This market is wide open, because no one has been able to solve the problem of effectively capturing this information for immediate workflow, transactions, CRM, and decision-support applications," Macciola said in a Kofax statement.
According to Kofax, the company will continue to license and support its technologies for all current Mohomine customers as they move forward to fully integrate the two companies solutions.
Though the specific terms and numbers were not disclosed, information released by Kofax explained that it was a cash transaction that will fold San Diego's Mohomine into its company.