Transformative combination further accelerates growth as digital document leader with best-in-class technology offerings in $22B market
PDFTron Systems Inc., the world’s leading provider of digital content solutions for software developers, has acquired iText Group NV, the leading global open source PDF technology company. Created in 2000 and commercially available since 2008, iText’s flagship product is a software library to create and manipulate PDF documents in Java and .NET. There are currently millions of iText users, both open source and commercial.
The addition of iText’s unmatched high-performance and feature-rich PDF libraries positions PDFTron as the top technology provider for software developers and end users of document processing solutions, and further accelerates the company’s growth. iText’s expertise in server-side processing is highly complementary to PDFTron’s technology platform. The acquisition of iText follows a strategic growth investment from Thoma Bravo, a leading software investment firm, in May 2021.
“We are thrilled to join forces with PDFTron to drive increased innovation enabling our customers to work more efficiently with documents in this increasingly digital world,” said Gary Fry, CEO of iText. “As part of the PDFTron team, we will be able to better leverage the power of PDF by building on our open-source and enterprise solutions to further streamline the generation and consumption of documents and data.”
“The addition of iText enhances PDFTron’s position as the leading technology platform to power the way the world works with documents and digital content,” said Hudson Smith, a Partner at Thoma Bravo. “Since our investment last year, PDFTron has experienced significant growth and we look forward to supporting the combined organization during this exciting next phase.”
“Since first partnering with PDFTron in 2019 as their first institutional investor, the company has demonstrated impressive growth. We are excited to continue our partnership alongside Thoma Bravo as PDFTron continues to drive innovation in the document processing market,” said Jim Quagliaroli, Managing Partner at Silversmith Capital Partners.
With its global footprint, PDFTron will now have more than 315 employees serving millions of users at over 5,600 enterprise customers.
PDFTron was advised on the transaction by AGC Partners and Kirkland & Ellis LLP.
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