Nintex set to acquire K2 Software to boost automation offering

Nintex set to acquire K2 Software to boost automation offering

Published: 02-10-2020 16:08:20 | By: Bob Koigi | hits: 1678 | Tags:

Nintex, the global standard for process management and automation, today announced a definitive agreement to acquire K2 Software Inc., an innovative provider of digital process automation (DPA) software solutions.

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 per cent 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.

Eric Johnson, CEO, ,Nintex: "We are excited to be bringing together leading innovators in the digital process automation software market. 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."

Organisations in every region of the world are saving costs and 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 per cent of Fortune 100 companies, have leveraged K2 software solutions to take control of their business processes, increase visibility and improve operational efficiency.

Evan Ellis, CEO and President, K2:  "We are looking forward to delivering even greater value to our K2 customers by joining forces with Nintex. 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."

Jim Lundy, CEO and Lead Analyst, Aragon: "With Nintex's latest acquisition announcement, the company will further enhance its position as a leading digital business platform and its role as a leader in workflow and content automation and digital transaction management," said. "Nintex is demonstrating that it is built to last and one to watch in the world of process and automation."

Carl Lehmann, Senior Research Analyst at 451 Research: "Automation remains at the heart of many current digital transformation initiatives. But to industry-leading organisations, automation is more than just a means to reduce redundant and error-prone manual activities or do things faster by streamlining and reducing cycle times. Industry leaders are investing in automation initiatives that bring to bear new resources that can predict change, risk and opportunity, and/or respond to it rapidly. They seek to empower the workforce with newfound intelligence and deliver new forms of value recognised by customers as superior to rivals. When this occurs, digital transformation creates new competitive advantage."

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.

www.nintex.com

www.k2.com