SEG Sector Deals: Upland Software Acquired RightAnswers
Upland Software, a provider of cloud-based enterprise work management software, acquired RightAnswers, a provider of knowledge management solutions for businesses worldwide. The acquisition will be an addition to the UplandOne operating platform, allowing customers access to enhanced customer service, IT support, and enterprise-wide capabilities. Upland paid $17.2 million in cash, plus an additional $2.5 million holdback payable in one year. Acquisitions are key to Upland’s growth strategy, as this marks their sixth acquisition since going public.
Seller Business Description:
Upland Software, Inc. provides cloud-based enterprise work management software. See Press Release.
Buyer Business Description:
RightAnswers, Inc. provides knowledge management solutions for businesses worldwide.