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The Green Sheet

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Software Firm Tries Again To Buy Mitek Systems

Thursday, November 01, 2018 (Digital Transactions / Jim Daly)

It’s interesting that ASG Technologies Group is quick to mention Mitek’s shortfalls - yet will not give up on acquiring Mitek. Perhaps Mitek’s 33 patents are a factor. And although overall check volumes have been in decline, the check capture industry continues to grow significantly.

Below is an excerpt from the article written by Jim Daly and published by Digital Transactions.


Software developer ASG Technologies Group Inc., a portfolio company of the hedge fund Elliott Management Corp., on Wednesday announced a $425 million offer to buy Mitek Systems Inc., a leader in the mobile remote deposit capture software market that also provides identity-verification and related applications.

San Diego-based Mitek issued no public comment on the unsolicited offer, and a spokesperson did not respond to a Digital Transactions News inquiry. The company is scheduled to release financial results Thursday afternoon for its fourth quarter and full year of fiscal 2018 ended Sept. 30.

Click here to read the article in its entirety.


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