Upland Software, Inc. Acquires Panviva Pty Ltd, A Cloud-Based Enterprise Knowledge Management Solution, Expanding Its Presence In Knowledge Management Market And Providing Customers With A New Way To Boost Contact Center Productivity in regulated sectors, such as utilities, healthcare and financial services.
“At Upland, we recognize that there is no such thing as a ‘one size fits all’ approach to knowledge management, as each organization tries to meet its own set of challenges and requirements,†said Jack McDonald, President- Managing Director of Upland. . “There is robust growth in this market and Panviva fits seamlessly into Upland’s existing product library, allowing us to offer our customers knowledge-driven solutions that meet their specific needs.
The purchase price paid for Panviva was $ 19.8 million in cash at closing (net of cash acquired), paid from cash on hand, and a cash holdback of $ 3.5 million payable over twelve months (subject to claims).
Upland expects the acquisition to generate annual revenue of approximately $ 7.5 million, all of which is recurring, and will be subject to reductions in the deferred revenue rebate due to the recognition of purchases under GAAP, estimated at $ 2.0 million for the remainder of 2021.
The price paid for the acquisition is within Upland’s target range of 5 to 8 times the pro forma Adjusted EBITDA and it is expected that Panviva will generate at least $ 3.4 million of Adjusted EBITDA per year once. fully integrated.
Panviva offers businesses the ability to orchestrate knowledge into a single source of truth and audit what is consumed and where.
With Panviva, organizations can quickly deliver the key tasks and information required by any role and provide workflow-based advice that can reduce onboarding time and error rates in key processes.
“We founded Panviva with a mission to unleash productivity and improve compliance for our customers with the knowledge-driven solutions they really need,†said Ted Gannan, CEO of Panviva. “As we join the Upland product library, our mission will be amplified through their vision of multi-solution knowledge management, making it easy to cash in quickly and meet the customer where they are today, to help them. to get to where it needs to be tomorrow. “
For more information on this news, visit https://uplandsoftware.com/.
