PaperPort, a renowned scanning and document management software, has been a staple in the world of digital document management for over three decades. With its origins dating back to the 1990s, PaperPort has undergone significant transformations, changes in ownership, and updates to its features and functionality. In this article, we will delve into the history of PaperPort, exploring its past ownership, significant milestones, and ultimately, reveal who owns PaperPort now.
A Brief History of PaperPort
PaperPort was first introduced in 1994 by Visioneer, a company founded by John Capurso. At the time, the software revolutionized the way people managed their documents, providing a user-friendly interface for scanning, organizing, and editing digital documents. The initial version of PaperPort supported popular scanners of the era, including those from Hewlett-Packard, Epson, and Canon.
In the mid-1990s, PaperPort gained popularity, and Visioneer continued to update the software, adding new features and improving its performance. The software’s user base expanded, and it became a staple in many offices and homes.
Visioneer’s Early Success and Challenges
Visioneer’s early success with PaperPort led to an initial public offering (IPO) in 1996, which raised $40 million. The company used these funds to further develop PaperPort and explore new markets. However, the company faced stiff competition from established players in the scanning and document management industry, including Adobe and Kodak.
Despite these challenges, Visioneer continued to innovate, releasing new versions of PaperPort and expanding its product line to include other document management solutions. However, the company’s growth was eventually hampered by increased competition, and Visioneer’s stock price began to decline.
The Sale of PaperPort to ScanSoft
In 2000, Visioneer sold PaperPort to ScanSoft, a leading provider of speech recognition and document management software, for approximately $35 million. At the time, ScanSoft was looking to expand its presence in the document management market, and PaperPort was a strategic acquisition that fit well with its existing product line.
Under ScanSoft’s ownership, PaperPort continued to evolve, with the company releasing new versions of the software and integrating it with its existing products. ScanSoft’s focus on speech recognition technology also led to the development of new features in PaperPort, including optical character recognition (OCR) and voice recognition capabilities.
ScanSoft’s Merger with Nuance Communications
In 2005, ScanSoft merged with Nuance Communications, a leading provider of speech recognition and artificial intelligence solutions. The merged company retained the Nuance Communications name and continued to develop and market PaperPort as part of its document management product line.
Nuance Communications’ Ownership and Development of PaperPort
During Nuance Communications’ ownership, PaperPort underwent significant updates, with a focus on improving its OCR capabilities, user interface, and compatibility with popular operating systems. Nuance also expanded PaperPort’s functionality to include advanced features such as document analytics, automatic document routing, and integration with popular cloud storage services.
In 2016, Nuance Communications released PaperPort 14, which introduced a new user interface, improved OCR accuracy, and enhanced security features. This update marked a significant milestone in PaperPort’s development, solidifying its position as a leading document management solution.
The Sale of PaperPort to Kofax
In 2017, Nuance Communications divested its document imaging division, including PaperPort, to Kofax, a leading provider of intelligent automation and document management solutions. Kofax, a subsidiary of the private equity firm, Thoma Bravo, acquired PaperPort as part of its strategy to expand its presence in the document management market.
Kofax’s Ownership and Future of PaperPort
Under Kofax’s ownership, PaperPort continues to evolve, with a focus on integrating it with Kofax’s existing product line and developing new features that leverage artificial intelligence and machine learning technologies. Kofax has also expanded PaperPort’s compatibility with popular cloud storage services, including Microsoft OneDrive, Google Drive, and Dropbox.
In conclusion, Kofax currently owns PaperPort, and its continued development and innovation ensure that the software remains a leading solution for document management and scanning needs.
The Future of Document Management with PaperPort
As the document management landscape continues to evolve, PaperPort is well-positioned to remain a dominant player. With Kofax’s focus on intelligent automation and artificial intelligence, PaperPort is likely to incorporate new features that simplify document management, improve productivity, and enhance user experience.
As businesses and individuals increasingly adopt digital document management solutions, PaperPort’s continued development and innovation will ensure its relevance in the market. With its rich history, strong ownership, and commitment to innovation, PaperPort is poised to remain a leading solution for document management and scanning needs for years to come.
| Year | Event |
|---|---|
| 1994 | PaperPort was first introduced by Visioneer |
| 1996 | Visioneer went public with an initial public offering (IPO) |
| 2000 | Visioneer sold PaperPort to ScanSoft |
| 2005 | ScanSoft merged with Nuance Communications |
| 2016 | Nuance Communications released PaperPort 14 |
| 2017 | Nuance Communications divested its document imaging division, including PaperPort, to Kofax |
In summary, PaperPort’s ownership has evolved over the years, from its origins with Visioneer to its current ownership by Kofax. Throughout its history, PaperPort has remained a leading solution for document management and scanning needs, and its continued development and innovation ensure its relevance in the market.
What is PaperPort?
PaperPort is a document management software that allows users to scan, organize, and edit documents digitally. It was first introduced in the 1990s and gained popularity in the early 2000s as a tool for individuals and small businesses to manage their paper documents.
PaperPort has evolved over the years to include features such as OCR (Optical Character Recognition) technology, which enables users to convert scanned documents into editable text. The software has also become more user-friendly, with a intuitive interface and improved search functionality.
Who originally developed PaperPort?
PaperPort was originally developed by ScanSoft, a company that specialized in developing document management and OCR software. ScanSoft was founded in 1992 and was based in Burlington, Massachusetts.
In 2005, ScanSoft acquired Nuance Communications, another company that specialized in speech recognition and OCR technology. The merged company retained the Nuance Communications name and continued to develop and market PaperPort as one of its flagship products.
What happened to ScanSoft and Nuance Communications?
In 2018, Nuance Communications sold its Document Imaging division, which included PaperPort, to Kofax, a company that specializes in intelligent automation and document management software. Kofax continued to develop and market PaperPort as part of its product portfolio.
After the acquisition, Kofax invested in updating PaperPort’s features and functionality to meet the changing needs of its customers. Today, PaperPort remains a popular document management solution for individuals and small businesses.
Is PaperPort still a viable document management solution?
Yes, PaperPort remains a viable document management solution for individuals and small businesses. Although the document management landscape has changed significantly since PaperPort was first introduced, the software has evolved to keep pace with emerging trends and technologies.
PaperPort continues to offer a range of features that make it an attractive option for users who need to manage paper documents digitally. Its OCR technology, search functionality, and user-friendly interface make it an ideal solution for users who want to simplify their document management processes.
Can I still purchase PaperPort?
Yes, PaperPort is still available for purchase from Kofax and other authorized resellers. Users can buy a perpetual license or subscribe to a cloud-based version of the software.
Kofax continues to offer support and updates for PaperPort, ensuring that users have access to the latest features and functionality. Additionally, Kofax provides resources and training to help users get the most out of their PaperPort software.
What are some alternatives to PaperPort?
There are several alternatives to PaperPort, including Adobe Acrobat, Evernote, and Shoeboxed. Each of these solutions offers unique features and functionality that may appeal to users who are looking for a different document management solution.
When evaluating alternatives to PaperPort, users should consider their specific needs and requirements. For example, users who need advanced OCR functionality may prefer Adobe Acrobat, while users who want a cloud-based solution may prefer Evernote or Shoeboxed.
Is PaperPort compatible with modern operating systems?
Yes, PaperPort is compatible with modern operating systems, including Windows 10 and macOS High Sierra or later. Kofax has ensured that PaperPort is compatible with the latest operating systems, so users can rest assured that their software will continue to work as expected.
Additionally, PaperPort is available as a cloud-based solution, which means that users can access their documents from any device with an internet connection. This makes it an ideal solution for users who need to access their documents on the go.