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BPV Portfolio Company API Acquired by Upland Software
AUSTIN, Texas, April 27, 2016 /PRNewswire/ — Upland Software, Inc. (UPLD), a leader in cloud-based Enterprise Work Management software, today announced that it has acquired Advanced Processing & Imaging (API), a highly effective content management platform driving workflow in governments and schools across North America. API will be combined with Upland’s enterprise workflow automation solution, FileBound, to create the industry’s most powerful workflow automation and document management platform.
Workflow automation and document management software is a large and growing market. Businesses across industries use workflow automation and document management tools to organize and automate document processes to improve ROI. FileBound is a leader in this industry, providing exceptional solutions in healthcare, education, legal, government and automotive markets. With the addition of API, Upland’s FileBound will expand service offerings in the municipal government and education verticals.
“We are very pleased to welcome Advanced Processing & Imaging and its valued customers to the Upland family,” said Jack McDonald, chairman and CEO of Upland Software. “FileBound and API power some of the most efficient organizations. The combined solution, with fortified strength in education and government verticals, will support even greater customer success.”
“FileBound is committed to driving efficiency and delivering outstanding value to our enterprise customers and resellers,” said Sean Nathaniel, CTO and SVP of Workflow Automation Solutions. “We look forward to ensuring the ongoing success of API’s customers. The combined organization is poised to deliver enterprise-level service and support to API customers, ultimately providing more value.”
“This is a very important milestone for our customers,” said Juan Rodriguez, founder and CEO of Advanced Processing & Imaging. “In combining Upland’s enterprise-level capabilities and the passion for customer experience that both companies share, we see significant value in this acquisition for our customers.”
The transaction will be immediately accretive to Upland’s Adjusted EBITDA per share. Further details regarding the transaction can be obtained in the Form 8-K filed April 27, 2016.
