Upland Software scoops up Panviva to create knowledge-guided solutions
Upland Software, Inc. is acquiring Panviva Pty Ltd, a cloud-based enterprise knowledge management solution, expanding its presence within the knowledge management market and giving customers a new way to drive contact center productivity in regulated industries, such as utilities, healthcare, and financial services.
“At Upland, we recognize that there is no such thing as a ‘one size fits all’ approach to knowledge management as every organization is trying to tackle their own unique set of challenges and requirements,” said Jack McDonald, chairman and CEO of Upland. “There is robust growth in this market and Panviva is a strong strategic fit with Upland’s existing product library, enabling us to offer our customers knowledge-guided solutions that address their specific needs.”
The purchase price paid for Panviva was $19.8 million in cash at closing (net of cash acquired), paid out of cash on hand, and a $3.5 million cash holdback payable in twelve months (subject to indemnification claims).
Upland expects the acquisition to generate annual revenue of approximately $7.5 million, all of which is recurring, and will be subject to reductions for deferred revenue discount as a result of GAAP purchase accounting, estimated at $2.0 million for the remainder of 2021.
The price paid for the acquisition is within Upland’s target range of 5-8x pro forma Adjusted EBITDA and it is expected that Panviva will generate at least $3.4 million in Adjusted EBITDA annually once fully integrated.
Panviva provides businesses the ability to orchestrate knowledge into a single source of truth and to audit what is consumed and where.
With Panviva, businesses can quickly deliver key tasks and information required by any role and provide workflow-based guidance that can reduce onboarding time and reduce error rates in key processes.
“We founded Panviva with a mission to unlock productivity and improve compliance for our customers through knowledge-guided solutions they actually need,” said Ted Gannan, CEO of Panviva. “As we join the Upland product library, our mission will be amplified through their multi-solution knowledge management vision, driving quick time to value and meeting the customer where they are today, to help them get to where they need to be tomorrow.”
For more information about this news, visit https://uplandsoftware.com/.