TA Associates-backed Nintex has acquired Drawloop Technologies Inc., a document-generation software.
Drawloop, headquartered in Irvine, California, takes common documents for sales or services purposes and merges them with Salesforce data, in an attempt to help business' renew customers more efficiently. The company counts 3M, DocuSign, DuPont, LinkedIn, JetBlue Airways, Medtronic and Yamaha as customers. Terms of the transaction were not disclosed.
Nintex says the combination of its software with Drawloop with continue to improve efficiencies in Salesforce. The Melbourne, Australia-based buyer makes cloud-based workflow software that helps companies automate business processes.
Nintex has been backed by Boston private equity firm TA Associates since 2013, when the firm partnered with Updata Partners for an investment. TA has made many software investments, including Prometheus Group, which makes software for the oil and gas, chemical, utility, mining and manufacturing industries, and pharmacy-management software SoftWriters Holdings.
Other private equity firms are also showing interest in software companies, as the shift to the cloud provides businesses with a recurring software model absent in previous software models. For more on the trend, see Plugging Into Software and watch Recurring Revenues Make Software Companies Attractive to Private Equity.
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Corrected July 7, 2015 at 12:39PM: 4324382261001