Through a 100% share purchase agreement, Xpertdoc Technologies Inc. has acquired the assets of XperiDo from Belgian company Invenso bvba for an undisclosed amount. In a briefing late last week, Xpertdoc leadership indicated plans to integrate the two separate brands into one unified offering by late 2018.
In a recent Twitter chat, Xpertdoc CEO Francis Dion reiterated that this acquisition is not a hostile takeover but is being positioned to combine their strong market presence in the document automation and customer relationship management (CRM) space.
The first thing everyone needs to realize is, this is not an hostile takeover. Xpertdoc and Xperido are two very successful companies, one mostly present and active in North America and the other in Europe, with some overlapping coverage in Asia Pacific.#powerofx— Francis Dion (@fdionXpertdoc) February 15, 2018
Both Invenso CEO and Co-Founder Rudy Vanhille and Managing Partner and Co-Founder Vincent Van der Linden will join Xpertdoc's global leadership team.
In a statement, Mr. Dion further expanded on the deal saying, "With Xpertdoc's emphasis on enterprise customer communication management (CCM), this is an exciting opportunity for both Xpertdoc and XperiDo customers and partners. By combining XperiDo's strong market presence in industries such as Wealth Management, Government, Insurance, and Manufacturing across Europe and APAC with Xpertdoc's already strong leadership in document automation and CCM technologies, we expect to reach even more markets with our combined offerings."
This deal follows the news of Xpertdoc's infusion of cash ($1.725 million to be exact) from BDC Capital in June of last year.
XperiDo is an extension for different software ecosystems (including Microsoft Dynamics 365, SugarCRM, Salesforce, or other custom applications) to automate the creation and delivery of documents. This deal brings quicker deployment options and an enhanced interface focused on the end user experience to Xpertdoc.
In turn, XperiDo users will have access to additional enterprise capabilities of Xpertdoc, including their patented template migration tool, secure document vaults, digital asset management, and integrated electronic signature capabilities.
Through this deal, Xpertdoc, a Microsoft Gold Partner, will benefit from XperiDo's established footprint in the CRM space and looks to deepen their integration with Salesforce, SAP, and other enterprise resource planning (ERP) ecosystems.
XperiDo brings with it a trove of customers (two times that of Xpertdoc) and a robust partner network, with a deeper penetration in the mid- to low-tier market to Xpertdoc, who maintains a larger segment of direct customers in the financial services, insurance, and global manufacturing sectors and, ultimately, earns higher revenue.
The efforts to digitize and automate forms, documents, and templates within the enterprise continues unabated, leading to increased growth in the CCM market. According to analyst firm TMR, the US CCM market is expected to reach $1.06 billion by the end of 2025, from $423.1 million in 2016.
As we reported last year, we will continue to see CCM vendors focusing their efforts around their integration strategies, business-friendly interfaces, and moving to the cloud.
Allison Lloyd serves as the Editor of DOCUMENT Strategy Media. She delivers thought leadership on strategic and plan-based solutions for managing the entire document, communication, and information process. Follow her on Twitter @AllisonYLloyd.