Nitro Software acquires PDFpen for $6m cash
Nitro Software is set to acquire PDFpen, a suite of PDF productivity applications for Mac, iPhone and iPad. Under the agreement, Nitro will pay $6 million in cash for the solution.
The transaction is subject to customary closing conditions, and it is anticipated these will be met on or before 9 July 2021. The acquisition of PDFpen is Nitro's first acquisition since its successful IPO in December 2019.
Under the terms of the acquisition, Nitro will acquire the PDFpen technology from US-based Smile. The acquisition will be funded from the company's existing cash reserves.
PDFpen provides a comprehensive document viewing, reviewing and collaboration experience, combined with editing tools that enable users to sign PDFs, fill forms, search and redact sensitive information, export to Microsoft Word, Excel and PowerPoint, and more.
The addition of PDFpen strategically expands the Nitro Productivity Platform and provides productivity solutions for knowledge workers everywhere on virtually any device, the company states.
Nitro's Productivity Platform already supports certain key mobile and tablet use cases, with eSigning available on any device with a web browser and Nitro Pro compatible with Microsoft Surface devices.
The addition of PDFpen extends native PDF productivity to Mac, iPhone and iPad users everywhere.
The expansion of Nitro's Productivity Platform comes at a critical time for customers, the company states. This is a time when businesses are continuing to invest in remote or hybrid workplace solutions, as the COVID-19 pandemic accelerated digital transformation, including the use of Mac and mobile devices.
Nitro customers now have productivity solutions for virtually every device and operating system at home, in the office, in the field and on the move.
Nitro cofounder and CEO Sam Chandler says, “As the first acquisition since our IPO, PDFpen marks a significant strategic milestone for Nitro.
"The addition of Mac and mobile capabilities to our platform better enables us to serve businesses and individuals on any device or operating system at a time when digital transformation has never been more relevant or more urgent for organisations around the world.
"It represents a major advance in Nitro's vision to make document productivity easy, powerful and available to all.
Smile cofounder Philip Goward says, “We have strong roots in the Mac, iPad and iPhone platforms, and have focused our tools to be intuitive and easy to use.
"The PDFpen product family will be a perfect addition to the Nitro Productivity Platform, giving Nitro customers an even broader range of productivity solutions.