AUSTIN, Texas, Dec. 9, 2014 /PRNewswire/ -- Upland Software, Inc. (Nasdaq: UPLD), a leader in cloud-based Enterprise Work Management applications, today announced that it has agreed to acquire Mobile Commons, a cloud-based mobile messaging software provider. Mobile Commons' enterprise-class application drives and manages digital engagement through sophisticated, two-way SMS programs and campaigns. Customers include healthcare, higher education, government, consumer product and nonprofit organizations seeking to maximize program outcomes and engagement levels.
Upland has signed a definitive agreement to acquire Mobile Common subject to customary closing conditions. The transaction, scheduled to close this week, is expected to increase Upland's current annualized revenues to approximately $75 million. The Company will discuss further details of the acquisition and the continued strength of its business in Q3 and Q4 during its upcoming earnings call on December 16.
With Mobile Commons, Upland is able to deliver the power of mobile messaging and digital engagement to its customers, both as a stand-alone cloud offering and by broadening the capabilities of its existing Enterprise Work Management products. In particular, Mobile Commons builds on Upland's support for digital marketers by complementing the engagement and personalization strengths of its cloud-based Web Content Management (WCM) application, Clickability. Customers of Mobile Commons include National Cancer Institute, Bowling Green State University, New York Presbyterian Hospital, The Ad Council, New York City Metropolitan Transportation Authority, Viacom, Humane Society of the United States, Obama 2012 and Tumblr.
"We're very pleased to welcome Mobile Commons as the latest addition to the Upland family," said Jack McDonald, Chairman and CEO of Upland Software. "This acquisition brings a powerful form of digital engagement to our Enterprise customers. It is another great example of the type of strategic acquisitions that we are actively pursuing, and that our recent IPO enables us to accelerate."
Mobile Commons is a cloud-based application for managing large-scale mobile messaging programs and campaigns. Mobile Commons' web-based dashboard provides a simple and easy-to-use interface for managing sophisticated messaging programs, while secure servers process millions of two-way text messaging conversations and phone calls.
"We're proud of the level of engagement and impact our customers have achieved by using Mobile Commons," said Jed Alpert, CEO and Co-Founder of Mobile Commons. "With text messaging, marketers are able to achieve extraordinary outcomes such as four-times higher click-through rates and two-times higher conversions rates than email. We're truly excited to bring Enterprise-class mobile messaging to Upland's customers."
"This is an exciting milestone for Mobile Commons and our vision of Enterprise-class mobile messaging," said Benjamin Stein, CTO and Co-Founder of Mobile Commons. "We've worked hard to deliver an easy-to-use yet secure and scalable platform. Becoming part of Upland's Enterprise Work Management strategy reinforces our belief in the role mobile digital engagement can play in the Enterprise."
About Upland Software
Upland (Nasdaq: UPLD) is a leading provider of cloud-based Enterprise Work Management software. Our family of applications connects people through technology, automates the flow of work and brings visibility to all aspects of the organization. With more than 1,200 enterprise customers around the globe, and over 200,000 users, Upland helps teams in IT, marketing, finance, professional services and process excellence run their operations smoothly, adapt to change quickly and achieve better results every day. To learn more, visit www.uplandsoftware.com.
About Mobile Commons
Mobile Commons is a mobile strategy and software company that is the technology behind today's most effective mobile messaging campaigns. Mobile Commons works with some of the biggest brands, government agencies, healthcare groups and nonprofit organizations in the country, transforming the way that our society uses mobile to communicate. To learn more about Mobile Commons, visit www.mobilecommons.com or follow us on Twitter @mobilecommons.
This press release contains forward-looking statements, subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, which are based on Upland management's beliefs and assumptions and on information currently available to management. Forward-looking statements include information concerning Upland's and Mobile Commons' expected, possible or assumed future results of operations and growth and the addition of Mobile Commons to the Upland family. Forward-looking statements include all statements that are not historical facts and may be identified by terms such as "continues," "plans," "intends," "believes," "expects," "anticipates," "can," "could," "provides," "look forward to," or similar expressions and the negatives of those terms. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Upland's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to the following: (a) risks related to the anticipated future benefits resulting from the acquisition of Mobile Commons; (b) Upland's ability to react to trends and challenges in our business and the markets in which we operate; (c) the adoption rate of Upland's products; (d) Upland's ability to establish and maintain successful relationships with our customers; (e) general political, economic and market conditions and events; (f) difficulties encountered in integrating Upland's and Mobile Commons' businesses and technologies; and (h) other risks and uncertainties described more fully in Upland's documents filed with or furnished to the Securities and Exchange Commission. All information provided in this press release is as of the date hereof and, except as required by law, Upland assumes no obligation to update this information, even if new information becomes available in the future.
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SOURCE Upland Software, Inc.