Kofax sells hardware arm

UK software provider Kofax will sell its hardware business to Germany's privately held Hannover Finanz for $23.2m (£14.6m), and said it would record a $2.6m charge to restructure its software business. The company expects the restructuring to lead to about 20 job cuts and annual cost savings of at least $2.5m in fiscal year 2012 and thereafter.