Upland Software, Inc. completed the acquisition of Omtool, Ltd. for $19.2 million.
January 09, 2017
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Upland Software, Inc. (NasdaqGM:UPLD) entered into an agreement to acquire Omtool, Ltd. (OTCPK:OMTL) for $22.2 million in cash on December 19, 2016. Completion of the transaction is subject to customary closing conditions, including approval of the Omtool's stockholders. The transaction was unanimously approved by the Omtool's board of directors, acting on the unanimous recommendation of a committee of independent directors. The holders of a majority of the outstanding shares of Omtool have entered into voting agreements pursuant to which they have agreed to vote their shares to approve the transaction. The closing of the acquisition is scheduled to occur on or before January 10, 2017. The transaction is immediately accretive to Upland’s Adjusted EBITDA per share. Bowen Advisors acted as Financial advisors in the transaction. Choate Hall & Stewart acted as legal advisor to Omtool, Ltd. Bob Cronin, John Emery and Chris Dubyak of Bowen Advisors acted as financial advisor to Omtool.
Upland Software, Inc. (NasdaqGM:UPLD) completed the acquisition of Omtool, Ltd. (OTCPK:OMTL) for $19.2 million on January 10, 2017. The Cosine Group, LLC acted as financial advisor for Upland Software. A delayed draw term loan facility in an aggregate principal amount of up to $10 million was used to finance the transaction.
Upland Software, Inc. provides cloud-based software applications. The Company's applications enable its customers to drive digital transformation in various business functions, including marketing, sales, contact center, knowledge management, project management, information technology, business operations, and human resources and legal. Its applications interact with consumers across multiple channels to acquire new customers, drive product and service utilization, and resolve issues. It offers applications that help organizations optimize their sales opportunities and account management processes, coordinate proposal and reference activities, collaborate on the creation and publication of digital content and gain increased control over key sales and marketing workflows, activities and budgets. It offers applications that improve customer experience and reduce call volume and cycle times through customer self-service products and voice of the customer (VoC) technology.
UPLAND SOFTWARE, INC. 
