Acquisition advances PDFTron's position as a leading document technology platform powering digital transformation
VANCOUVER, BC, June 23, 2020 /PRNewswire/ - PDFTron Systems Inc., a global leader and innovator of document processing technology, today announced the acquisition of ActivePDF, a California-based global provider of high-volume and scalable server-side PDF automation components to 40% of Fortune 500 companies.
The deal builds upon PDFTron's first acquisition of San Jose-based BCL Technologies just three months ago in March 2020, and marks another milestone in the company's expansion following the $71M growth investment led by Silversmith Capital Partners in May 2019.
"ActivePDF is an extraordinary company with an amazing team and products," said Catherine Andersz, PDFTron co-founder and CEO. "Combining PDFTron's market-leading client-side technology and document SDKs with ActivePDF's high-volume document automation and no-code/low-code developer solutions will create an end-to-end document technology platform expediting our vision of changing the way the world works with documents."
The combination of PDFTron and ActivePDF creates strong synergies that will drive the next-generation of digital transformation solutions and innovation. Both companies have a solid, long-standing expertise in PDFs and documents. With documents at the center of digital transformation, the ActivePDF acquisition positions PDFTron to play a greater role in helping enterprises accelerate change across every part of their business, to increase operational efficiency and differentiated customer experiences. Additionally, the relentless focus that both companies have on customer satisfaction, will ensure that the acquisition will create long-term benefits for customers.
"PDFTron's highest priority has always been the utmost satisfaction of our customers and building a great company culture with an entrepreneurial and innovative spirit. We are confident that the acquisition of ActivePDF will support these key values in the long-term," added Andersz.
Some of ActivePDF's notable customers include DocuSign, The US Department of Defense, Nationwide Insurance, PwC, Paychex and Barclays.
Tim Sullivan, Founder of ActivePDF, stated, "This partnership highlights and promotes the strengths between our two companies. Both PDFTron and ActivePDF have pedigrees in PDF knowledge and digital transformation technology and the resulting combination of the two will benefit the market like no other has done before. We are very excited about the synergies between our two organizations and what that means for our customers and the industry as a whole."
Choate, Hall & Stewart and the Canadian office of Gowling WLG served as legal counsel to PDFTron, while Rutan & Tucker served as legal counsel to ActivePDF. Deloitte Canada served as accounting and tax diligence advisors to PDFTron. Debt financing was provided by First Eagle Alternative Credit.
ActivePDF is the leading global provider of server-side PDF automation tools and digital transformation solutions. Developers, Product Managers, CIOs, and CTOs partner with ActivePDF to embed feature-rich digital transformation technologies directly into their enterprise applications and IIM solutions that reliably scale for millions of users.
While represented amongst 40% of Fortune 500 companies, the full suite of ActivePDF technologies are currently deployed in industries such as Banking, Financial Services, Government, Healthcare, Legal, Manufacturing, Utilities, and more. To explore everything PDF, visit ActivePDF.com.
About PDFTron Systems Inc.
Headquartered in Vancouver, BC, PDFTron is a premier global provider of high-performance document processing technology serving hundreds of customers across a broad spectrum of industries. PDFTron's market-leading SDK drives digital transformation and powers next generation software applications with dynamic document viewing, annotation, processing, and conversion capabilities, as well as advanced features such as document understanding, data extraction, and redaction. PDFTron technology supports all major platforms and dozens of unique file types, including support for PDF, MS Office, and CAD formats. For more information, visit www.pdftron.com. For more information on XODO, visit www.xodo.com.