December 29, 2022
Orbograph, founded in the 1990s by Avikam Baltsen within Orbotech (now KLA), develops image processing systems for reading printed and handwritten text, among other things for the purpose of processing checks and detecting fraud
company Urbograph (Orbograph) from Rehovot purchased by a company RMS (Revenue Management Solutions), an Oklahoma-based healthcare payment automation service provider, for approximately $100 million. Orbograph, which was established in 1995 as a spin-off of Prbotech Develops image processing systems for reading and identifying printed and handwritten text, for example on checks, for the banking and health sectors.
The systems she developed read documents in a variety of languages, including English, Hebrew and more. Since its founding, the company has processed over 100 billion checks. In her estimation, her solutions save her clients about $200 million in losses per year by identifying fake check fraud.
the company
The company was founded in 1995 by Avikam Baltsen [בתמונה למעלה], Atudai is a graduate of the performance research branch in the Air Force and qualified from the Technion and Univ. Tel Aviv, as a spin-off of the old Orbotech company, which wanted to expand its activities to other markets. Orbotech supported Orbograph in its early years, providing various infrastructures and the knowledge it gained in the field of image processing. In 2007, Barry Cohen, who at the time served as the president of Orbotech USA, joined the company, and together with Baltzan led the company to rapid growth and becoming a leading technology provider in the American banking and payments market. In 2019 Orbotech was sold to the American company KLA and the time was ripe for the sale of Orbograph.
As part of the purchase, the company’s activities in the health field will be transferred to the purchasing company RMS, while the banking activities will remain under the authority of Orbograph, including the brand name. Urbograph has over 4,000 customers, mainly recognized financial institutions in the USA, service bureaus and clearing houses, as well as most of the major banks in Israel.
Published in the categories: news, mergers and acquisitions
Posted in tags: RMS, Orbograph
