An Austin, Texas-based enterprise software company recently announced the acquisition of a Canadian communication automation business.
Upland Software, Inc., issued a news release Jan. 10 announcing its acquisition of Objectif Lune Inc., based in Montréal. Objectif Lune specializes in document composition and business communication automation.
"We have long invested in the document workflow category and with Objectif Lune we can support even more of the document lifecycle for our customers," Upland Software Chairman and CEO Jack McDonald said in the release. "This means we can help businesses produce more sophisticated paper documents where they are still required, replace paper with digital delivery where desired, and enable document digital transformation without requiring companies to change their legacy systems."
Acquiring Objectif Lune allows Upland to expand its global document workflow product library and enables the company to modernize complex, paper-based documents for large-volume print production, in addition to its automated delivery across web, email, and mobile platforms, the release stated.
Upland's current document workflow products include AccuRoute, FileBound, InterFAX, and Upland Intelligent Capture. Those products are designed to improve productivity and reduce costs by enabling the digital transformation of businesses across industries, including healthcare, financial services, legal, government, and education, according to the release.
"Objectif Lune came from the idea that there had to be a better way to support paper-based business communications in the modern world while maintaining support for legacy business systems," Objectif Lune co-founder and CEO Didier Gombert said in the release. "Upland not only supports our mission but accelerates it due to the scale of their document workflow product library, experience delivering documents through the cloud, and the value being delivered through their partner channels."
The purchase price in the Objectif Lune acquisition was $29 million, paid from cash on hand and a $5.3 million cash holdback payable in 12 months, subject to indemnification claims, according to the release.