Hyland, a leading content services provider, has signed an agreement providing for exclusive negotiations to acquire Nuxeo, a content services platform and digital asset management (DAM) provider. The transaction is expected to close in April 2021, subject to consultation of employee representative bodies and customary closing conditions.
Nuxeo offers a cloud-native, open-source, low-code platform with content services and digital asset management (DAM) capabilities, among others. Once the transaction closes, the entire Nuxeo business is expected to be managed under Hyland Software, Inc.
“This agreement reflects Hyland’s ongoing efforts to innovate our platform and expand our global footprint as the leader in cloud-based content services platforms,” said Bill Priemer, President and CEO of Hyland. “Adding Nuxeo’s services and capabilities will enable us to compete in new areas and support our customers in new ways.”
“We’ve innovated an entirely modern platform that provides both enterprise-class content services and digital asset management capabilities, and we look forward to bringing these capabilities to the Hyland portfolio as well as leveraging Hyland’s considerable global resources to deliver even greater success to our customers and partners,” said Eric Barroca, CEO of Nuxeo.
The agreement was supported by Nuxeo’s investors, Goldman Sachs and Kennet Partners.