The acquisition will be funded by a A$140M capital raising and positions Nitro as a top 3 global eSign provider
Today, I’m thrilled to announce that Nitro has entered into an agreement to acquire Connective, a European-based leader in enterprise and high trust eSigning. At the same time, we have executed our largest capital raising ever – raising A$140M to build the future of digital transformation.
This is truly a milestone moment for Nitro. With this acquisition and capital raising, we build on our commitment to helping customers on their digital transformation journey by adding enterprise-grade, high-trust eSigning capabilities, the market’s most expansive electronic identity (eID) support, and powerful document automation technology. The combination of Nitro and Connective establishes the third enterprise eSign provider with truly global reach in the rapidly growing US$17 billion eSign market.
Like our recent acquisition of PDFpen, the much-loved suite of PDF productivity apps for Mac, iPad and iPhone, joining forces with Connective means further accelerating our product roadmap and delivering additional value to our current and future customers. It immediately adds best-in-class functionality to the Nitro Productivity Platform to ensure we’re meeting every customer need – in this case, in the areas of enterprise and high-trust eSigning, electronic identity (eID) and workflow automation.
As soon as we started talking to the Connective team, we knew there was an immediate cultural and strategic fit. Nicolas Metivier, Connective’s CEO, and his team have built a world-class company that tightly aligns with our mission of delivering best-of-breed, high-value technologies with unparalleled customer service. Founded in 2014, Connective is the leading eSign provider in their home country of Belgium and have more than 1,000 customers with a rapidly growing market share across Europe.
Their roster of blue-chip customers is impressive, including the French and Belgian governments, BNP Paribas, ING Bank, Pirelli and Toyota, to name just a few. While Connective’s focus and success to date has been primarily in Europe, their products are immediately ready for global scale and this is why the partnership with Nitro is so powerful. With this acquisition, we are bringing together Connective’s market-leading products, Nitro’s global sales network and a combined 13,000+ business customers in over 150 countries. The opportunities to expand the market for Connective’s eSigning, eID and workflow solutions through the Nitro platform are endless.
This is what our customers want. As workflows become increasingly digitized – a process accelerated by the pandemic – CIOs and IT leaders everywhere know that increased efficiency, trust, security and regulatory compliance are vital to business success. And that means the future of eSigning is built around flexible, powerful, and secure document workflow solutions. The combination of Nitro and Connective makes this future a reality, today.
We couldn’t be more excited to welcome Connective to the Nitro family. Nicolas and his team have built a tremendous culture that perfectly complements our vision and values. As Connectivians become Nitronauts, our collective efforts will only serve to accelerate our commitment to delivering on our mission of making document productivity and workflow easy, powerful and available to all.
Further information about the acquisition and associated capital raising can be found in our Press Release.