Workflow automation services vendor Nintex announced that it has completed its acquisition of US-based K2 Software Inc., a low-code process automation platform.
This acquisition makes Nintex the world’s largest privately-held process automation software vendor.
“It’s exciting to officially bring two technology innovators together to help organizations everywhere solve their process problems and automate work with easy-to-use and powerful software solutions,” said Nintex CEO Eric Johnson.
Nintex is expected to scale K2’s medium-to-high-level process automation technology to expand its global footprint. K2’s strong presence and capabilities in Europe will also help Nintex enhance its partner ecosystem in the region.
“We look forward to providing our customers and partners with more new and innovative solutions that truly do improve the way people work,” added Mr. Johnson.
K2 is Nintex’s third acquisition since Thoma Bravo became the company’s majority investor in early 2018.
K2 is said to have thrived in the area of medium-to medium-high-level process automation complexity. Nintex has thrived at the wide end of the DPA market, with a huge customer base, many of which have deployed thousands of applications on the platform.
“Rapidly growing markets offer great opportunities as well as risk. When SharePoint exploded in the 2008 time frame, both Nintex and K2 leveraged the moment and grew rapidly. As we now face another huge market shift, the two will have the opportunity to do it again as teammates instead of competitors,” wrote Principal Analyst and VP for Forrester, Rob Koplowitz.
Nintex serves half of the Fortune 500 companies and generates over US$200 million in annual revenue.
“Nintex’s growth strategy is paying off and this move will further accelerate its plan to become one of the largest providers of process automation. While both firms have geographic distribution, K2 has some strong capabilities in Europe that will help to enhance the overall Nintex global customer community and partner ecosystem,” said Aragon CEO and Lead Analyst, Jim Lundy,
K2 has 1.5 million users in 84 countries and currently serves several high-profile clients including Microsoft and Louis Vuitton’s parent company LVMH. Therefore, the acquisition is set to be mutually beneficial to both companies and their portfolio of clients.
“Combining K2 with Nintex expands the total addressable market available to Nintex as K2’s portfolio brings in the ability to work with more complex data types as well as case management. This combination also shores up the company’s position as a leading provider of process automation and workflow tools running on Azure,” said IDC Program VP for Integration and Process Automation, Maureen Fleming.
Microsoft leveraged K2 Five to build an automated solution to handle the content publication process for Microsoft.com and its global team that operates over 450 eCommerce sites. Microsoft efficiently streamlined the product promotion process, saving time, and reducing publishing errors by ensuring the right content and asset information is captured from the initial request and accurately represented across its digital stores in 240 markets.
Terms of the deal between Nintex and K2 will not be disclosed.
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