12 July 2021
Nitro Software Limited (ASX: NTO) (‘Nitro’ or the ‘Company’), a global document productivity company driving digital transformation in organisations around the world, is pleased to announce the completion of the acquisition of PDFpen, a market-leading suite of PDF productivity applications for Mac, iPad® and iPhone®.
On 28 June 2021, Nitro announced the acquisition of the PDFpen technology from US-based Smile, Inc. for USD $6 million in cash. The transaction was subject to customary closing conditions, which have now been satisfied.
The acquisition, Nitro’s first since its successful IPO in December 2019, extends native PDF productivity to Mac, iPad and iPhone users, enabling Nitro to serve all knowledge workers across businesses globally. PDFpen provides comprehensive document viewing, reviewing and collaboration experiences combined with powerful editing tools that enable users to sign PDFs, fill forms, search and redact sensitive information, export to Microsoft Word, Excel, PowerPoint and much more.
Nitro Co-Founder and Chief Executive Officer Sam Chandler said: “The completion of the PDFPen acquisition marks a significant strategic milestone for Nitro and represents a major advance in Nitro’s mission to make document productivity easy, powerful and available to all.”
Following the acquisition, Nitro retains significant cash reserves, providing the company with the flexibility to pursue other targeted, value-enhancing acquisitions.
Nitro reaffirms its FY2021 guidance (all figures in USD):
- Ending ARR between $39 million and $42 million
- Revenue between $45 million and $49 million
- Operating EBITDA loss between $11 million and $13 million
Authorised for release to the ASX by the Board.
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Nitro is a global document productivity software company driving digital transformation in organisations around the world across multiple industries. The Company’s core solution, the Nitro Productivity Suite™, provides integrated PDF productivity, eSignature and business intelligence (BI) tools to customers through a horizontal, SaaS and desktop-based software suite. Nitro’s software solution is highly scalable, serving large multinational enterprises and government agencies, as well as small businesses and individual users. Nitro has over 2.6 million licenses sold, and 11,700 Business Customers in 154 countries around the world, including over 68% of the Fortune 500 and three of the Fortune 10. Nitro is headquartered in San Francisco and has offices in Dublin, London, and Melbourne.
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