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In-Q-Tel Enters Into Agreement With Kofax
Focus on this venture would be "document exploitation"
By Hank Russell
In-Q-Tel, an Arlington, VA-based private venture group funded by the U.S. Central Intelligence Agency, has signed a development and investment agreement with Kofax Image Products (Irvine, CA). Kofax, a division of DICOM Group plc (Basingstoke, UK), is a developer of application software and image processing products for the Electronic Data Capture (EDC) market.
Under the agreement, both companies will advance technologies for "document exploitation," the analysis and use of documents to extract actionable information. Kofax will combine its Ascent information capture platform and Mohomine text classification product to support multi-language document exploitation activities conducted by national security and other government organizations, as well as state and local law enforcement organizations.
Kofax acquired Mohomine, a San Diego, CA-based company specializing in text mining technology, in April 2003; that acquisition brought Kofax to In-Q-Tel, which had an investment of approximately $500,000 over the next five years, with the monies going to research, development and productization. Sameer Samat, co-founder of Mohomine, became Kofax? chief technology officer.
"We (Mohomine) were an In-Q-Tel portfolio company, which means we had done a few rounds of investment with them and had a very good experience with them," Samat explained. "I think they were very happy with the investment and with the software. They did an extraordinary amount of due diligence and they felt that our text mining software was really important in helping analysts get the right information to the right people effectively, and doing that across a multitude of languages."
The two primary pieces of Kofax technology that will be employed in the In-Q-Tel document exploitation effort are MohoClassifier and Ascent. MohoClassifier automatically categorized unstructured documents based on their content. It supports Chinese, Arabic, Eastern European and Western European languages. Ascent, an information capture platform, enables companies to collect large volumes of forms and documents, transforms them into useful, retrievable electronic information and delivers it all into a variety of workflow and document management systems. It can also capture electronic documents and XML streams, and can be integrated with enterprise applications.