Nintex eyes K2 Software acquisition
Nintex, the global standard for process management and automation, today announced a definitive agreement to acquire K2 Software Inc., a provider of digital process automation (DPA) software solutions.
"We are excited to be bringing together leading innovators in the digital process automation software market," said Nintex CEO Eric Johnson. "Upon closing, Nintex and K2 customers and partners will benefit from an even broader range of process management and automation solutions. The combination of our respective development teams will further accelerate our pace of innovation in this growing market."
The transaction is subject to the completion of regulatory review and other closing conditions. Nintex and K2 are working together to close the transaction in the coming weeks. Deal terms will not be disclosed.
Organizations are improving operations by using Nintex's easy-to-use, powerful process platform to visually map and manage business processes with Nintex Promapp and to accelerate digital transformation with mobile apps, digital forms, workflows, robotic process automation (RPA), document automation and eSignatures.
K2 Software, Inc. helps enterprises digitally transform faster by simplifying the creation of modern process applications and automated workflows with robust developer tools. Over 1.5 million users in more than 84 countries, including 30% of Fortune 100 companies, have leveraged K2 software solutions to take control of their business processes, increase visibility and improve operational efficiency.
K2 is Nintex's third acquisition since Thoma Bravo became the company's majority investor in early 2018.
Upon closing this transaction, Nintex will serve more than 10,000 customers including approximately 50% of the Fortune 500 and will generate over $200 million in annual recurring revenue, making Nintex one of the largest independent software vendors for process automation.
"We are looking forward to delivering even greater value to our K2 customers by joining forces with Nintex," said K2 CEO and president Evan Ellis. "Combining Nintex's solution portfolio with K2's complementary technologies will further enhance what commercial enterprises and government agencies can achieve through the power of digital process automation."
For more information about this news, visit www.nintex.com.