Nitro To Acquire Connective, Raises $140million
Australian-born productivity company Nitro has entered into an agreement to acquire Connective NV, a leading European-based eSign SaaS provider. The deal is worth an enterprise value of €70 million (~US$81 million).
The transaction, to be funded by a A$140 million capital raising, cements Nitro’s position as a global eSign and document productivity leader, making them the outright third-largest in the world.
Connective provides enterprise-grade eSigning solutions for more than 1,000 customers that require high levels of trust, security and regulatory compliance. It is the leading eSign offering in Belgium (700+ customers), growing fast in France (250+ customers), with customers in 11 other EU countries. It delivers the most comprehensive eID (Electronic Identity) and Smartcard support of any eSign vendor globally, with 30+ identity and smart card integrations covering 20+ countries.
The acquisition is in line with Nitro’s product-driven strategy, significantly accelerating and enhancing Nitro’s eSign, electronic identity (eID) and document workflow capabilities as customers increasingly demand high-trust and automated signing solutions.
Sam Chandler, Co-Founder and Chief Executive Officer of Nitro, said: “This is a milestone moment in Nitro’s growth story. With the acquisition of Connective, Nitro is in prime position to become one of the top 3 global players in the rapidly growing enterprise eSign market, at a time where increased trust, security, and regulatory compliance are vital to business success. With data privacy and security at a premium, the future of eSigning is built around high-trust eID-driven solutions, and this acquisition positions Nitro to become a global leader in this space.”
“Connective’s Smart Document solution will also further bolster Nitro’s offering, making document workflow automation easy, powerful and available to all. There are a multitude of opportunities to drive additional demand of the Connective offerings within Nitro’s platform through our global customer and partner networks. Nicolas and his team have built a world-class company that tightly aligns with our mission of delivering best-in-breed, high value technologies with unparalleled customer service experience and we couldn’t be more excited to welcome the entire Connective team to the Nitro family.”