A word from our CEO, Nicolas Metivier:
I am pleased to announce that Connective has entered into an agreement to be acquired by Nitro. This deal will bring together a global leader in document productivity software with a leading European eSigning solution. Moreover, by combining forces, Connective and Nitro are positioned to become the third largest enterprise eSign provider.
Over many years, the need of enterprises to transform digitally and especially the demand for eSigning solutions has grown rapidly. The continuation of social distancing and the increasing number of employees working from home has only accelerated the widespread adoption of digital tools, such as electronic signatures.
This deal with Nitro is a strategic step forward in fulfilling our shared bold ambition to become one of the leaders in the fast-growing US$17 billion enterprise eSign market. By joining forces we will be in a much stronger position to help our customers along their digital transformation journey. Our eSign and eID solutions have helped us establish a formidable presence in Europe and with Nitro’s customer base and global reach we are excited to expand this presence around the world.
Both companies have entered into an agreement where Nitro will acquire Connective for an enterprise value of €70 million (~US$81 million). The transaction, to be funded by a A$140 million (~US$104 million) capital raising. Upon transaction completion in December 2021, we are bringing together our market-leading products, Nitro´s global sales network and 13,000+ business customers in 155 countries.
We are delighted to have found a partner in Nitro that so closely aligns with our mission and vision, as well as our core company values. There was an immediate connection with Sam Chandler and the Nitro team, and it was clear to me how our market leading solutions could scale even further as part of the Nitro Productivity Platform.
When the acquisition is final, Nitro will add our trusted products to the Nitro Productivity Platform, which already includes powerful PDF productivity, simple eSigning and industry-leading analytics capabilities. The opportunities to expand the market for our highly secure, enterprise-grade eSigning, eID and workflow capabilities through the Nitro platform are enormous. And we can promise that our employees, clients and partners will soon reap the benefits of this partnership.
We are excited to become a part of the Nitro family and transition from Connectivians to Nitronauts. Together we will continuously strive to make document productivity easy, powerful and available to all. For now, we are energized by what is ahead of us as we look to integrate the best of both organizations and cultures.
Please read the Press Release for additional acquisition details and further information about the capital raising can be found on the ASX.
Questions? Don't hesitate to contact us!