Upland Software Acquires Omtool for $19.2 Million

Upland Software, a provider of cloud-based enterprise work management software, has acquired Omtool, Ltd., a provider of document capture, fax and workflow solutions with U.S. headquarters in Andover, Mass. and European headquarters in the U.K.

The purchase price paid for Omtool was $19.2 million (net of cash acquired).

According to Jack McDonald, chairman and CEO of Upland Software, the strategic acquisition enhances Upland’s workflow automation and document management product portfolio by adding capture, security, and compliance capabilities and also strengthens its position in the financial services, legal, and healthcare verticals.

The Cosine Group advised Upland Software on the Omtool transaction.

For more information about Upland, go to www.uplandsoftware.com.