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Upland Acquires Document Capture Software Leader Omtool to Enhance its Workflow Automation Portfolio

Cloud & CX

Subsector CX & EX
Service Sellside M&A
Omtool United States
Upland Software United States

Bowen Advisors Serves as M&A Advisor to Omtool

BOSTON, January 18, 2017 – Bowen Advisors is pleased to announce that Omtool, an Andover, Massachusetts-based provider of enterprise document capture and workflow software solutions, has been acquired by Upland Software (Nasdaq: UPLD), a leader in cloud-based enterprise work management software. With a deal team led by Bob Cronin, John Emery and Chris Dubyak, Bowen Advisors acted as exclusive sellside M&A advisor to Omtool.

Omtool’s industry-leading AccuRoute® platform enables secure document process automation for customers that include some of the world’s largest financial institutions, as well as hundreds of healthcare providers and legal firms. The acquisition reinforces Upland’s commitment to offering best-in-class document workflow technologies. “This strategic acquisition enhances our workflow automation and document management product family by adding powerful capture, security, and compliance capabilities and strengthens our position in the financial services, legal, and healthcare verticals,” said Jack McDonald, Chairman and CEO of Upland Software. Omtool is the latest addition to Upland’s Workflow Automation portfolio, which also includes its FileBound and Advanced Processing and Imaging offerings.

“The accelerating move to a digital economy is forcing companies of all sizes to transform their business operations. Omtool’s powerful platform enables corporations to centralize the digitization, storage and routing of unstructured information, while securely controlling the distribution of documents to line of business groups who increasingly need information on a near-real time basis to execute mission-critical business tasks,” said Bob Cronin, Managing Director and Head of Bowen Advisors’ Enterprise Information Management practice. “The transaction adds to the firm’s growing track record in the enterprise information management industry, which includes software companies operating in the content management, data integration, product data management, business intelligence, big data and advanced analytics sectors.”

 

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ABOUT BOWEN

Bowen is a growth tech investment bank with an entrepreneurial edge. We provide M&A advisory, private capital and principal investment services. For two decades, our entrepreneurial focus, integrity and commitment to excellence have guided our strategic and client-centric advice. Our track record of exceptional transaction execution, deep industry knowledge and longstanding relationships set us apart.

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