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MELBOURNE, Oct. 15, 2020 /PRNewswire/ -- Nintex, the global standard for process management and automation, today announced the company has completed its acquisition of K2 Software Inc., an innovative provider of digital process automation (DPA) software solutions.
K2 is Nintex's third acquisition since Thoma Bravo became the company's majority investor in early 2018. Nintex now serves more than 10,000 customers, including more than 50 per cent of the Fortune 500, and generates over $200 million in annual recurring revenue, making Nintex the world's largest privately-held process automation software vendor.
"It's exciting to officially bring two technology innovators together to help organisations everywhere solve their process problems and automate work with easy-to-use and powerful software solutions," said Nintex CEO Eric Johnson. "We look forward to providing our customers and partners with more new and innovative solutions that truly do improve the way people work."
With the Nintex Process Platform, organisations in every region of the world are saving costs and improving operations by visually mapping and managing business processes with Nintex Promapp® and accelerating digital transformation with mobile apps, digital forms, workflows, robotic process automation (RPA), document automation and eSignatures.
Over 1.5 million users in more than 84 countries, including 30 per cent of Fortune 100 companies, have leveraged K2 software solutions to take control of their business processes, increase visibility and improve operational efficiency. Organisations like Ballast Nedam, First Solar, LVMH, Microsoft, and Stihl have benefited from K2's process automation solutions.
As an example, Microsoft has successfully leveraged K2 Five to build an automated solution to handle the content publication process for Microsoft.com and its global team that operates 450+ eCommerce sites. K2 has enabled Microsoft to efficiently streamline the product promotion process, saving valuable time and significantly 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.
Industry comments on Nintex's acquisition of K2
"K2 has 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," wrote Forrester VP, Principal Analyst Rob Koplowitz in his recent blog post. "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." 1
"Nintex will become the largest privately held provider of process automation software," said IDC Program VP, Integration and Process Automation, Maureen Fleming. "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."2
"Nintex is demonstrating that you can have organic growth and a consolidation strategy at the same time," said Aragon CEO and Lead Analyst Jim Lundy. "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."3
Deal terms will not be disclosed.
1. Source: Nintex's Acquisition of K2 Signals Growth And Change For The DPA Market, Forrester Blog, October 1, 2020.
2. Source: Nintex to Acquire Competitor K2, IDC Link, doc #lcUS46906820, October 1, 2020.
3. Source: Nintex Buys Archrival K2 as Process Automation Market Begins Consolidation Phase, Aragon Research First Cut, October 6, 2020.
Media Contact
Kristin Treat
kristin.treat@nintex.com
cell: (215) 317-9091
About Nintex
Nintex is the global standard for process management and automation. Today more than 10,000 public and private sector organisations across 90 countries turn to the Nintex Platform to accelerate progress on their digital transformation journeys by quickly and easily managing, automating and optimising business processes. Learn more by visiting www.nintex.com and experience how Nintex and its global partner network are shaping the future of Intelligent Process Automation (IPA).
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