Asolvi has acquired print management software provider Purpose Software as it looks to gain a market leading position in the UK in the document management space.
The deal marks the third acquisition in three years for Norwegian firm Asolvi and is part of a strategy to grow the business beyond the Nordics.
“Following the acquisitions of Tesseract and WS Software in 2016 and 2017 respectively, we are proud to welcome Purpose Software into our growing family,” says Pål M. Rødseth, CEO of Asolvi.
“Purpose Software has the leading position in the document management space in the UK while Asolvi occupies a similar position in the Nordics and Continental Europe. We both offer software that generates enormous efficiency and productivity gains for providers of managed print and document services," he added.
The latest acquisition, the terms of which were not disclosed, adds more options to the product suite that Asolvi can offer. The company has now added Purpose Software's 2Serv and CBS solutions on top the Evatic, Tesseract and WinServ solutions.
There has also been a personal connection with the senior management at Purpose being known to Rødseth, which made the decision to seal the deal an easier one.
"We all agreed that the two organisations would be much stronger together. We saw an opportunity to pool our resources and knowledge of this industry, empowering the creation of new and improved solutions for MPS providers in the future," he said.
Michael Burke, CEO of Purpose Software, said that it recognised the strengths of Asolvi and the tie-up was an attractive one for both sides.
"Being part of a larger software group will add strength to the product development that is needed to be a service management solution provider for the future, and I look forward to working closely with the Asolvi team to achieve this," he said.