Upland Software raises FY21 revenue view to $300.8M-$312.8M from $299M-$311M 09:09 UPLD
Upland Software acquires Panviva for $19.8M 09:07 UPLD Upland Software announced that it has acquired Panviva, a cloud-based enterprise knowledge management solution. Panviva provides businesses the ability to orchestrate knowledge into a single source of truth and to audit what is consumed and where. The purchase price paid for Panviva was $19.8M in cash at closing, paid out of cash on hand, and a $3.5M cash holdback payable in twelve months. Upland expects the acquisition to generate annual revenue of approximately $7.5M, all of which is recurring, and will be subject to reductions for deferred revenue discount as a result of GAAP purchase accounting, estimated at $2M for the remainder of 2021. The price paid for the acquisition is within Upland's target range of 5-8x pro forma adjusted EBITDA and it is expected that Panviva will generate at least $3.4M in adjusted EBITDA annually once fully integrated.