Upland Acquires RightAnswers-a Knowledge Management Solution

Upland Acquires RightAnswers-a Knowledge Management Solution

Upland acquires RightAnswers

RightAnswers is a great product addition for current Upland customers looking to enhance their customer service, IT, and enterprise-wide collaboration

Upland Software, Inc., a leader in cloud-based Enterprise Work Management solutions, announced that it has acquired RightAnswers, Inc., a cloud-based knowledge management system. The acquisition was made for $17.2 million in cash, and a $2.5 million cash holdback payable in one year.

Upland expects the deal to generate additional annual revenue of $9 million. The listed company also raised its 2017 long-term Adjusted EBITDA margin target from 35% to 40% to reflect the increased customer loyalty and operating efficiency it is witnessing.

Welcoming RightAnswers and its 200+ clients and partners across the globe, Jack McDonald, Chairman and CEO, Upland Software, commented, “This strategic acquisition is a great product addition for current Upland customers looking to enhance their customer service, IT support, and enterprise-wide collaboration capabilities.”

Jeff Weinstein, President, and CEO, RightAnswers, said, “We’re excited to join Upland both because of the great product fit, and because of our shared vision of 100% customer success.”

Read Also: Upland Joins Twilio Partner Program for Mobile Messaging Campaigns on Facebook Messenger

RightAnswers was founded in 2001 by Mark Finkel, the company Chairman, and Founder, who considers this as a great transaction for RightAnswers’ customers and partners as it provides the opportunity to leverage the Upland operating platform to amplify their product innovation, service, and support. RightAnswers raised $2.3M in 2005 from NJTC Venture Fund.

This is the second acquisition this year by the software company after Omtool. Upland has made around 11 acquisitions since inception in 2010.

Spread the love
Previous ArticleThunder and Kepler Group Join Forces to Improve Programmatic Ads with Personalization and Targeted DataNext ArticleEyeota Delivers Precision Targeting to B2B Marketers Through New Data Marketplace Integration

Leave a Reply

Your email address will not be published. Required fields are marked *