Hyland said on Monday that it expected the transaction to close in the fourth quarter of 2020, subject to usual and customary closing conditions and regulatory approvals - with the entire Alfresco business to be managed under Hyland.
Headquartered in Boston, Alfresco develops a cloud-native digital business platform that designed to deliver content services solutions to connect, manage and protect organisations’ information.
Hyland - which has been active in Australia for some years - currently has a staff of over 30 people across the country, servicing customers including icare, Henley Homes and Ulrich Aluminium.
Announcement of the impending acquisition comes after Hyland announced last month that it had purchased German-based RPA development platform Another Monday.
“We continue to grow our business and advance our platform organically and via acquisitions,” said Bill Priemer, president and CEO of Hyland.
“This acquisition will expand our global reach, enabling us to help more organisations achieve their digital transformation goals and become more informed, empowered and connected.
“As an open source platform, Alfresco has created and nurtured a community of partners and developers, who it seems will continue to be an important part of the new entity’s plans moving forward.
“We’re also excited to develop new partnerships and engage with Alfresco’s open source community as a source of product innovation.”
"For 15 years Alfresco has had the vision to provide the most open, cloud native content services platform,” said Jay Bhatt, president and CEO of Alfresco.
“With this acquisition Alfresco brings significant geographic and industry experience to Hyland as well as an open source community as a new source of product innovation. Both companies share the same passion for customer success and innovation and together will offer increased value for customers and partners.”