Hyland, content services provider, has signed a definitive agreement to acquire Alfresco, a content services platform and solutions provider. The transaction, expected to close in the fourth quarter of 2020, is subject to usual and customary closing conditions and regulatory approvals.
Headquartered in Boston, Alfresco develops a modern, cloud-native Digital Business Platform that delivers content services solutions to connect, manage and protect organisations’ most critical information. Upon transaction close, the entire Alfresco business is expected to be managed under Hyland Software, Inc.
Bill Priemer, President and CEO of Hyland said, “we continue to grow our business and advance our platform organically and via acquisitions. This acquisition will expand our global reach, enabling us to help more organisations achieve their digital transformation goals and become more informed, empowered and connected.”
Jay Bhatt, President and CEO of Alfresco added, "for 15 years Alfresco has had the vision to provide the most open, cloud-native content services platform. 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. Both companies share the same passion for customer success and innovation and together will offer increased value for customers and partners.”