Hyland, an enterprise content management (ECM) and process management provider, announced that it has signed a definitive agreement to acquire Alfresco Software – an open source content services platform.
Both vendors appeared on the Gartner Magic Quadrant for ECM in 2019, with Hyland ranking as a “Leader” in the overall category. With Alfresco firmly in a challenger position, the combination brings a number of market-leading advantages to Hyland’s global growth strategy – particularly as it looks to the cloud.
“With this acquisition, Alfresco brings significant geographic and industry experience to Hyland, as well as an open-source community as a new source of product innovation,” said Jay Bhatt, president and CEO of Alfresco. “Both companies share the same passion for customer success and innovation and together will offer increased value for customers and partners.”
Hyland’s news is the latest in a recent “buying spree” that’s been playing out across the digital experience landscape. In just the past few months alone, Acquia received a major investment from Vista Equity Partners, Episerver announced plans to buy Optimizely, and just last week Nordic Capital acquired 70% of Siteimprove.
A leading ECM provider, Hyland is best known for its Onbase and Perceptive content management products, which securely centralize enterprise content and deliver relevant information to users across a wide variety of industries – including healthcare, finance, insurance, higher education and manufacturing.
Headquartered in Boston, Alfresco offers a modern, cloud-native Digital Business Platform that delivers enterprise content services and solutions to connect, manage, and protect critical information for organizations. Alfresco’s cloud capabilities may be a big ingredient in Hyland’s recipe for success as they eye a more cloud-centric strategy to scale their growth.
A Legacy of Strategic Acquisitions
Alfresco is one of Hyland’s many purchases, which have included a number of smaller digital optimization tools. Just this year, Hyland acquired Another Monday, the robotic process automation (RPA) software, Streamline Health ECM, and Learning Machine, a company that develops and markets blockchain-secured digital credentialing solutions. Other acquisitions include OneContent, Perceptive (which became one of their flagship products) and many more.
“We continue to grow our business and advance our platform organically and via acquisitions,” said Bill Priemer, president and CEO of Hyland. “This acquisition will expand our global reach, enabling us to help more organizations achieve their digital transformation goals and become more informed, empowered, and connected.”
Alfresco has also had its own share of acquisitions, purchasing its long-time services partner, Technology Services Group (TSG), to leverage their deep expertise in the insurance, manufacturing, life sciences, and compliance verticals. They also purchased Pernexas to add their portfolio of SAP capabilities.
Why the Alfresco Acquisition is Important
Over the years, Alfresco has grown into a respected and innovative enterprise content management provider with an array of proven solutions. But perhaps their most prudent and prescient decision was embracing the cloud – and partnering with Amazon Web Services (AWS) to scale their service offerings. Within the ECM industry, this has proven to be a uniquely strategic asset, and one that Hyland can use to accelerate their journey to a more modern, cloud-native posture. If properly integrated, this could be a game changer for Hyland – the kind that puts them in the leadership position on the Gartner Magic Quadrant.
Hyland is an enterprise content management (ECM) software platform, combining integrated document management, business process management, and records management in a single application. Hyland software allows organizations to manage, control, and share digital content with employees, business partners, customers, and other constituencies.
Alfresco Software is a commercial, open-source software company. The Alfresco Digital Business Platform accelerates the design and delivery of “cloud-first” solutions for the enterprise that are process and content-intensive. It is a single, integrated platform built from the ground up to digitize processes, manage content, and securely govern information. Alfresco helps more than 1,300 industry-leading organizations, including Cisco, Pitney Bowes, Capital One, US Department of Navy, the Joint Chiefs of Staff, and NASA, to be more responsive and competitive.