AbacusNext Expands Technology-as-a-Service Platform with Acquisition of HotDocs
Pioneer and Global Leader in Document Automation, HotDocs, Becomes Part of the AbacusNext Family of Business Management Solutions
SAN DIEGO, Nov. 13, 2017 (GLOBE NEWSWIRE) -- AbacusNext®, the largest Technology-as-a- Service (TaaS) provider for the professional services industry, is pleased to announce the acquisition of HotDocs, the global leader in document automation. Integration of HotDocs into the existing technology solutions for legal, accounting, and business management makes AbacusNext the most complete technology provider to the professional services industry.
Highlights of Acquisition:
- HotDocs is the leading provider of document automation software, with customers in 60 different countries and a user-base, globally, that exceeds one million.
- AbacusNext pioneered the only Compliance-Ready(TM) suite of technology solutions designed exclusively to cloud-enable desktop, mobile and SaaS applications in a single sign-on, secured and fully managed environment.
- HotDocs is widely used in the legal, banking, insurance, government, public and corporate sectors for increasing accuracy, reducing cost, mitigating risk, and improving efficiency in the generation of complex documentation. Users can quickly and efficiently generate customized documents such as contracts, sales agreements, government forms, and loan documentation.
- HotDocs Market, the standalone marketplace and publishing platform, gives professionals access to thousands of premium templates. Utilized by over 9,000 users, HotDocs Market is populated with content created by leading publishers and state bar associations.
- AbacusNext's combined user base, 1.5 million worldwide, will benefit from the most compelling products and services portfolio in the industry, including case management and practice management software solutions, private cloud hosting, Desktop-as-a-Service (DaaS), IT infrastructure management, security endpoint protection, and business automation.
This caps a year of expansion for AbacusNext-which saw acquisitions of Results Software, an award-winning CRM, OfficeTools, an industry leading practice management application, and Cloudnine Realtime, a hosting platform for accounting firms. The combination represents a unique opportunity to bring end-to-end technology services to existing clients, and AbacusNext will be positioned to capture significant market share in a highly fragmented market as the first company to provide a comprehensive suite of enterprise-level technology services and products.
In addition to core products, AbacusNext acquires HotDocs Market, an online ecommerce marketplace that allows clients to purchase and use HotDocs templates whenever and wherever they want. This unique, self-contained e-store built by HotDocs will ultimately allow on-demand access to products and templates across the unified AbacusNext portfolio. Incorporating HotDocs Market into the AbacusNext ecosystem will deliver yet another game-changing automation platform for clients.
"Today marks another milestone as we continue building on our unique technology services platform for our current and future clients," said Alessandra Lezama, CEO of AbacusNext. "HotDocs' document automation software is the perfect addition to our portfolio and will make an immediate impact for our client base of legal and accounting firms. By leveraging the HotDocs platform and support staff, we'll be able to offer organizations greater business efficiency than ever before, with the broadest value proposition to support customer growth. The combined company will have an unmatched position in serving clients by providing a complete end-to-end solution."
Rapid technology changes in recent years, together with increased pressure to reduce costs and increased mobility, is driving the movement to cloud-enable firms in the professional services industry to considerably reduce their costs and increase revenues. With this acquisition, AbacusNext builds HotDocs service offerings into its platform, allowing deeper relationships with business clients by providing the solutions they need to maximize operational efficiency and strengthen profit margins.
"HotDocs and AbacusNext work across many of the same markets and are a natural fit," said Russell Shepherd, outgoing CEO of HotDocs. "I was looking for an acquirer with the same grand scale of ambition as the HotDocs team, and Abacus has the ambition to take the combined businesses on to even greater heights. HotDocs offers Abacus the opportunity to expand vertically and internationally in one bold strategic move, through the acquisition of a global, market leading brand, and I am delighted to be passing on the leadership and ownership of HotDocs to this successful and expanding company."
Steve Spratt, COO at HotDocs, commented, "HotDocs document automation technology will enhance the existing product suite that AbacusNext already provides to its impressive client base and the 11,500 existing HotDocs client organizations will now have access to new CRM, practice management and hosting services under one roof. We welcome this new partnership and I look forward to sharing the benefits it brings with existing and new customers across our key verticals of banking, legal and large enterprise."
Since launching in the early 1990s, HotDocs has defined the concept of automated document assembly and has developed technology based on two decades of client feedback, resulting in the most powerful and versatile document automation solution available today. HotDocs is a pioneer and the global market leader, with over one million users in over 11,500 client organizations across more than sixty countries, and is headquartered in Edinburgh, UK.
As the largest Technology-as-a-Service (TaaS) provider for the professional services sector, AbacusNext helps legal and accounting professionals achieve ultimate success and peace of mind through the delivery of a complete suite of compliance-ready technology solutions designed to support a secure and cloud-enabled practice at a cost they can afford. Our portfolio of turnkey solutions include hardware, software and infrastructure on a pay as you go model; Practice Management, Client Resource Management (CRM), Payment Processing, Email, Desktop as a Service (DaaS) and Managed IT.
Headquartered in San Diego, California, and backed by private investment with Providence Equity, AbacusNext delivers products and services to over 500,000 businesses worldwide. To sign up or learn more visit AbacusNext.com.
About Providence Equity
Providence is a premier global asset management firm with $45 billion in assets under management across complementary private equity and credit businesses. Providence pioneered a sector-focused approach to private equity investing with the vision that a dedicated team of industry experts could build exceptional companies of enduring value. Since the firm's inception in 1989, Providence has invested in more than 150 companies and is the leading equity investment firm focused on the media, communications, education and information industries. Providence is headquartered in Providence, Rhode Island, and has offices in New York, London, Hong Kong, Singapore and New Delhi. For more information, please visit www.provequity.com.
Teeple Hall LLP and Brodies LLP participated in this transaction.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: AbacusNext via Globenewswire
Följ NASDAQ OMX
Abonnera på våra pressmeddelanden.
Senaste pressmeddelandena från NASDAQ OMX
Integrum uppmärsammas av Frankrikes president Emmanuel Macron och Stefan Löfven17.11.2017 19:02 | Pressmeddelande
PRESSINFORMATION 17 november 2017 Integrum blev vid fredagens EU-toppmöte i Göteborg som ett av få inbjudna att presentera bolagets tankestyrda proteser för Frankrikes president Emmanuel Macron och Stefan Löfven. Detta i samband med det strategiska partnerskap för innovation mellan Frankrike och Sverige som undertecknades vid mötet med mål att presentera konkreta framsteg inom två år. Integrum var utvalt som ett bra exempel på innovativt företag som utvecklar avancerade medicintekniska produkter där samspelet mellan människa och teknik skapar stort värde för användaren. Under mötet med president Emmanuel Macron och Stefan Löfven demonstrerades Integrums världsunika proteser som styrs med hjälp av tankekraft. Tekniken möjliggör att personer kan få en protes direkt kopplat till skelett, nerver och muskler utan att ha elektroder tillfälligt fästa utanpå huden. "Det är självklart mycket hedrande att I
CrownBio Launches an Innovative Grant Program to Fund Advancements in Preclinical Oncology Research17.11.2017 18:07 | Pressmeddelande
SANTA CLARA, Calif., Nov. 17, 2017 (GLOBE NEWSWIRE) -- Crown Bioscience, a wholly-owned subsidiary of Crown Bioscience International (TWSE:ticker 6554) and a global drug discovery and development services company providing translational platforms to advance oncology, inflammation, cardiovascular and metabolic disease research, announces the launch of a grant program supporting oncology research scientists which provides funding for projects that show promise for scientific advancement of Patient Derived Xenograft (PDX) technology. Research Grants up to $50,000 will be awarded to projects focused on accelerating the pace of preclinical innovation and novel PDX methodologies that improve clinical predictions with sound science. The program offers an opportunity for investigators to receive funding for projects that may not receive support through traditional funding channels. Submitted proposals will be reviewed and selected by CrownBio's Scientific Steering Committee with the goa
Barings Backs Sentinel Capital Partners in Acquisition of Nekoosa17.11.2017 17:00 | Pressmeddelande
CHARLOTTE, N.C., Nov. 17, 2017 (GLOBE NEWSWIRE) -- Barings, one of the world's leading asset management firms, announced today that it served as Lead Agent on a senior secured credit facility to support Sentinel Capital Partners in its acquisition of Nekoosa ("Nekoosa" or the "Company"). Headquartered in Nekoosa, Wisconsin, the Company is a leading manufacturer of specialty paper and film products used in the graphics and commercial print markets, including application and pressure-sensitive tapes, specialty synthetic papers, sheeted digital and offset grade carbonless paper, and extruded film products. Nekoosa serves a highly diverse base of more than 70,000 commercial print and graphics shops in 65 countries. Barings served as lead senior lender on the transaction, which included a senior term loan and a revolving credit facility. "Sentinel is pleased to have Barings' support on our investment in Nekoosa," said Scott Perry, a partner with Sentinel Capital Partner
At SC17, ExaScaler and PEZY Computing Unveil Gyoukou Supercomputer with a High Combined Green500/Top500 Ranking16.11.2017 23:29 | Pressmeddelande
ExaScaler and PEZY Computing Also Take Top Three Green500 Positions DENVER, Nov. 16, 2017 (GLOBE NEWSWIRE) -- At SC17, ExaScaler and PEZY Computing unveiled their Gyoukou supercomputer whose Green500 and Top500 rankings attest to a unique combination of high efficiency and computing power. The Gyoukou supercomputer is installed at the Yokohama Research Institute in Japan. (Video: PEZY Liquid immersion cooling) PEZY supercomputers leverage 48V Factorized Power, a high efficiency, high density power distribution architecture. PEZY's CPUs are co-packaged with Vicor's Power-on-Package ("PoP") Modular Current Multipliers ("MCMs"), which enable efficient, direct 48V to sub-1V current multiplication at the XPU. ExaScaler and PEZY Computing also achieved the #1, #2 and #3 positions on the Green500. These supercomputer system installations also utilize 48V Factorized Power. Come see us at SC17 at Booth 633 where ExaScaler / PEZY Computing will be
ELS Educational Services, Inc. Launches New Vacation English Program Starting January 201816.11.2017 20:59 | Pressmeddelande
New York, New York, Nov. 16, 2017 (GLOBE NEWSWIRE) -- ELS Educational Services, Inc. - one of the leading language services providers worldwide - has launched a new vacation English language program, ELS Language Experience+, which is set to begin enrollment for January 2018. "Here at ELS, our students and their English language goals always come first, and we are proud to introduce ELS Language Experience+ as an exciting new addition to the many quality programs we offer them," said ELS Chief Operating Officer, Reiji Terasaka. "This conversation-oriented, flexible new vacation English program allows students to make the most of their English instruction while gaining an invaluable cultural experience at the same time." ELS Language Experience+ concentrates on everyday speaking, communication skills and discussion, within a flexible course structure (three or six hours of study per day). Courses offered include: Everyday English, Grammar in Action, D
Global SD-WAN Partnership between CallTower and Aryaka to Deliver High-Performance Cloud Communication Solutions to Global Enterprises16.11.2017 16:02 | Pressmeddelande
SAN MATEO, Calif., Nov. 16, 2017 (GLOBE NEWSWIRE) -- Aryaka, the leading global SD-WAN provider, today announced a new partnership with CallTower, an industry-leading unified communications and collaboration company, to provide global enterprise customers with fast and reliable, high-quality cloud service connectivity. CallTower's partnership with Aryaka will deliver improved performance of their unified communications solutions to global enterprise customers. CallTower has linked their data centers with the Aryaka global network to deliver secure, reliable connectivity with quality of service guarantees for mission critical real-time communication applications. CallTower Cisco and Microsoft unified communications solutions, including Cloud Contact Center customers will now be able to add Aryaka's global SD-WAN service to further optimize, and enhance reliability over a secure network. "In addition to our unified communications offering, we have seen tremendous growth i
I vårt pressrum kan du läsa de senaste pressmeddelandena, få tillgång till pressmaterial och hitta kontaktinformation.Besök vårt pressrum