Upland Software acquires PostUp
Upland Software, Inc., a provider in cloud-based enterprise work management software, is acquiring PostUp, a provider of email and audience development solutions for publishing and media brands.
The acquisition adds approximately $11 million in annualized revenues and will be immediately accretive to Upland's Adjusted EBITDA per share.
PostUp’s email and audience development solutions help companies in the media and publishing sector to develop and grow their audiences, drive deeper audience engagement, and monetize their communications channels by generating new advertising and subscription revenue streams.
PostUp adds deep market expertise, sophisticated audience development solutions, and an established customer base in media and publishing to the Upland CXM solution suite, said Jack McDonald, chairman and CEO of Upland Software.
The purchase price paid for PostUp was $35.0 million in cash at closing, net of cash acquired. Upland expects the acquisition to generate annual revenue of approximately $11.0 million, of which $10.8 million is recurring, subject to reductions for a deferred revenue discount as a result of GAAP purchase accounting, estimated as inconsequential for the remainder of 2019.
For more information about this news, visit www.uplandsoftware.com.