Content services provider Hyland has signed an agreement to acquire Alfresco later in the year.
Based in Boston, Alfresco provides a ‘cloud-native’ digital business platform that delivers content services solutions to connect, manage and protect organisations’ most critical information.
Hyland, has signed a definitive agreement to acquire the company with the deal expected to close later this year, subject to usual and customary closing conditions and regulatory approvals. The cost of the deal has not been revealed.
Jay Bhatt, president and chief executive of Alfresco, said: “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.”
Once the deal is complete, the entire Alfresco business is expected to be managed under Hyland Software.
Bill Priemer, president and chief executive of Hyland, added: “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.”