Hyland Software purchases Nuxeo
Kennet Partners Limited (“Kennet”), a European technology growth equity investor, and Goldman Sachs Growth Equity ("Goldman Sachs"), a global growth equity investor, have entered into an agreement to sell co-owned portfolio company, Nuxeo, a content services platform and digital asset management (DAM) provider.
Kennet and Goldman Sachs are expected to make a 5x return on their investment in Nuxeo. The transaction is expected to close in April 2021, subject to consultation of employee representative bodies and customary closing conditions.
“The offer from Hyland is a strong endorsement of the vision and market position we’ve achieved so far, particularly in recent years, said Eric Barroca, CEO, Nuxeo. “Thanks to the support and investment by Goldman Sachs and Kennet we have been able to become a global leader in enterprise content services. We look forward to working with the team at Hyland.”
Kennet and Goldman Sachs acquired Nuxeo in 2016. Nuxeo’s platform focuses on Digital Asset Management for companies with fast product life cycles such as media, fashion and consumer electronics, and Enterprise Content Management for financial institutions.
Nuxeo has a range of global customers across its target sectors such as ABN-AMRO, Fox, Electronic Arts, CVS, and Siemens.
“This agreement reflects Hyland’s ongoing efforts to innovate our platform and expand our global footprint as the leader in cloud-based content services platforms,” said Bill Priemer, president and CEO of Hyland. “Adding Nuxeo’s services and capabilities will enable us to compete in new areas and support our customers in new ways.”
For more information about this news, visit www.hyland.com.