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K2 and ABBYY agree to strategic cooperation

Munich, March 1st, 2012 - K2, the leader in Business Process Management (BPM) and workflow on the Microsoft platform, and ABBYY Europe, a leader in document conversion and intelligent data extraction, today announced their strategic collaboration.

The objective of this partnership is to integrate ABBYY's capture solutions with K2 software for BPM and Case Management. Through the cooperation, ABBYY gains a strategic partner who operates in the international market for business process automation solutions. Both companies plan on offering joint, document-based solutions for capture-led business processes.

ABBYY's solutions for document capture and the intelligent extraction of data in enterprises are a natural extension of document-driven business processes carried out through K2's BPM software. Paper-based information needed for transaction-driven business processes can be extracted using ABBYY's capture platforms and integrated with the BPM system, where it can be utilized for further processing.

The ABBYY capture platform FlexiCapture will be integrated into solutions built with K2 blackpearl and K2 blackpoint software, and the partnership will also offer joint solution packages for optimizing core business processes, such as accounts payable, contract management and human resources.

"Our solutions have gained a lot of recognition - particularly our innovations in the field of process automation in SharePoint," said Ruan Scott, Managing Director at K2 Northern Europe GmbH. "ABBYY's expertise in the areas of document capture and intelligent data extraction complement K2's BPM platform and enable us to jointly offer added value to our customers. The efficient handling of documents is at the core of each workflow or BPM solution, and thanks to ABBYY, we are now able to offer to customers an even more comprehensive service."

By merging ABBYY's capture platform with K2's workflow and BPM offerings customers benefit from an integrated solution that covers the whole process, from capturing information to the successful execution of workflows.

Not only do the solutions automatically extract data but they also transfer metadata and full text images to a multitude of business applications. Document information is therefore immediately integrated into key business processes.

This leads to a sustainable cost savings and enables a faster return on investment. Invoice processing, for example, is one area where companies can achieve significant cost savings through process automation. Data can be automatically extracted from scanned invoices and then fed to an approval workflow process. Invoices that are approved by accounts payable can then be automatically entered into an ERP system.

"To enable powerful and efficient information processing from paper-based or digital documents is one area we focus heavily on," said Jupp Stoepetie, CEO & President of ABBYY Europe GmbH. "We are thrilled that in K2 we have a partner who possesses the most strategically and technologically advanced workflow and BPM software on the market, and moreover has positioned themselves as a leader within the Microsoft SharePoint eco-system."

Solutions from both companies will be on display at CeBIT 2012. ABBYY and K2 look forward to welcoming partners and customers at stand F16 in Hall3.

About K2
K2 Process-driven apps - fast.

Through its simplicity and with exclusive capabilities, K2 is changing the way people use software.

With K2 blackpearl, developers and business users can use information that already exists and processes that have already been built to create flexible, scalable applications that span employees, departments, organizations and line‐of business systems.

These process‐driven applications can be set up to automate and manage business processes or pull together business processes, people, services, information and systems into a single application that helps drive business.

And when the business needs shift, modifying those processes and applications is simple.

Everything is visual. Everything is declarative. Everything is reusable. Everything is intuitive.

K2 software is built on .NET and leverages existing investments in Microsoft software infrastructure - Microsoft OfficeSharePoint Server, InfoPath, Visio, Visual Studio, Office, Exchange, BizTalk and Office Communications Server.

K2‐based solutions are deployed by a growing number of the global Fortune 100. K2 is a division of SourceCodeTechnology Holdings, Inc. based in Redmond, Washington, and has offices all over the world.

About ABBYY Europe GmbH
ABBYY Europe GmbH is a member of the ABBYY Group supporting sales and marketing activities in Western Europe. ABBYY is a leading provider of document recognition, data capture, and linguistic technologies and services. Its products include the ABBYY FineReader line of optical character recognition (OCR) applications, ABBYY FlexiCapture line of data capture solutions, ABBYY Lingvo dictionary software, and development tools. ABBYY offers Professional Services to help customers implementing business solutions based on ABBYY's products. Paper-intensive organisations from all over the world use ABBYY solutions to automate time- and labour-consuming tasks and to streamline business processes. ABBYY products are used in large-scale government projects such as those of Australian Taxation Office, Lithuanian Tax Inspectorate, Ministry of Education of Russia, Ministry of Education of Ukraine, and Montgomery County Government of the USA. Companies that license ABBYY technologies include BancTec, Canon, EMC/Captiva, Hewlett-Packard, KnowledgeLake, Microsoft, NewSoft, Notable Solutions, Samsung Electronics and more. ABBYY OCR applications are shipped with equipment from the world's top manufacturers such as Epson, Fujitsu, Fuji Xerox, Microtek, Panasonic, Plustek, Toshiba, and Xerox. ABBYY is headquartered in Moscow, Russia, with offices in Germany, the UK, the United States, Canada, Ukraine, Cyprus, Australia, Japan and Taiwan. For more information, visit www.abbyy.com.

ABBYY, the ABBYY Logo, FineReader, ADRT, Lingvo, FlexiCapture, Recognition Server, and PDF Transformer are either registered trademarks or trademarks of ABBYY Software Ltd. Other product names mentioned herein may be trademarks and/or registered trademarks of their respective owners and are hereby recognized.

For more information, please contact:

ABBYY
Colin Miller
Elsenheimerstrasse 49
D - 80687 Munich
Tel.: 089/511 159-0
Fax: 089/511 159-59
E-Mail: [email protected]
Web: www.ABBYY.com

Press contact:
AxiCom UK
Amy Elston
+44 (0) 208 392 4081
[email protected]

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