Upland Acquires Document Capture Software Leader Omtool to Enhance its Workflow Automation Portfolio
Bowen Advisors Serves as M&A Advisor to Omtool
BOSTON, January 18, 2017 – Bowen Advisors is pleased to announce that Omtool, an Andover, Massachusetts-based provider of enterprise document capture and workflow software solutions, has been acquired by Upland Software (Nasdaq: UPLD), a leader in cloud-based enterprise work management software. With a deal team led by Bob Cronin, John Emery and Chris Dubyak, Bowen Advisors acted as exclusive sellside M&A advisor to Omtool.
Omtool’s industry-leading AccuRoute® platform enables secure document process automation for customers that include some of the world’s largest financial institutions, as well as hundreds of healthcare providers and legal firms. The acquisition reinforces Upland’s commitment to offering best-in-class document workflow technologies. “This strategic acquisition enhances our workflow automation and document management product family by adding powerful capture, security, and compliance capabilities and strengthens our position in the financial services, legal, and healthcare verticals,” said Jack McDonald, Chairman and CEO of Upland Software. Omtool is the latest addition to Upland’s Workflow Automation portfolio, which also includes its FileBound and Advanced Processing and Imaging offerings.