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Upland Software Acquires Altify for USD 84m
Wednesday 09 October 2019

9 October 2019 - Texas, US-based work management software company Upland Software, Inc. (NASDAQ: UPLD) has acquired revenue optimisation solutions provider Altify, the company said.
The purchase price paid for Altify was USD 84m in cash at closing. Upland expects the acquisition to generate annual revenue of approximately USD 24m.
In conjunction with this acquisition, USD 59m was drawn on Upland's revolving credit facility, taking Upland's gross debt outstanding to USD 409m, and with approximately USD 56m of cash on-hand, Upland's net debt is now approximately USD 353m.
Altify will be a core platform of Upland's Sales Optimisation solution suite, the market's first to combine opportunity and account management, sales process automation, customer reference management, and RFP and sales proposal automation, all supported by a robust content operations platform to ensure consistent messaging for high impact revenue teams.
Upland Software (NASDAQ: UPLD) is in cloud-based enterprise work management software.
Upland provides seven enterprise cloud solution suites that enable more than one m users at over 9,000 accounts to win and engage customers, automate business operations, manage projects and IT costs, and share knowledge throughout the enterprise.
Altify is a Customer Revenue Optimisation company, helping businesses generate value and grow revenue.
Providing best practices, methodology, and technology, Altify helps revenue teams visualise customers and their desired outcomes, unlocking revenue growth and building sales excellence.
Date Published: 09/10/2019
Target: Altify
Country: USA
Deal Size: 84m (USD)
Sector: Computer Software
Type: LBO
Financing: Cash
Status: Agreed
Buyer: Upland Software, Inc