The year of M&A continues, even as 2018 is winding down. Just this week, Levi Ray & Shoup Inc. announced that it is acquiring U.S.-based Drivve Inc. and affiliated companies in Europe. Also this week we heard the news that that ECI is buying Print Audit. And last month Kofax announced that it is acquiring Nuance. Other important acquisitions include Konica Minolta’s acquisition of MWA back in July. Drivve will join the Enterprise Output Management division of LRS.
Established in 2008, Drivve developed an ecosystem of solutions and services to streamline document-intensive business processes. Their software includes image capture and routing technology, as well as document management. With a customer base of SMBs, Fortune 500 Companies, education and government institutions, Drivve users gain improved security and efficiency of critical business workflows.
“Like LRS, the Drivve team has been focused on optimizing specific elements of the document lifecycle,” said Drivve CEO Thilo Lutzeler. “Separately, each company has become a leader in its own market space; together, we will be able to offer customers a comprehensive document ecosystem that streamlines every aspect of information capture, imaging, management, security, and distribution. We are very excited to help LRS bring these best-of-breed solutions to market.”
The acquisition of Drivve will help LRS expand and improve its document solution offerings in important areas. LRS is a global provider of technology solutions with multiple lines of business. More than half of the Fortune 1000 companies rely on an LRS solution and the company consistently ranks as one of the top software companies in the world. But adding Drivve lends additional capabilities to boost digital transformation.
“By incorporating the Drivve software functionality into our EOM software suite, we will dramatically expand our ability to support the digitization and business process improvement projects that exist in our customers’ organizations, said John Howerter, LRS senior vice president of Enterprise Output Management.
The LRS deal for Drivve is another in a steady string of mergers and acquisitions this year, and don’t be surprised if we see a few more of these acquisitions going forward in the document management space.