News

Nitro acquires Connective, an electronic signature startup, for € 70 million

The company that supplies software document productivity, Nitro, has just acquired Connective NV, one of the Europe-based electronic signature SaaS providers, for an enterprise value of 70 million euros.

The transaction, which will be financed with a capital raise of US $ 104 million, further consolidates Nitro’s position as world expert from Electronic signature – eSign – and document productivity.

Acquisition highlights:

  • This operation is aligned with Nitro’s product-based strategy, and significantly accelerates and improves the company’s capabilities in terms of electronic signature (eSign), electronic identity (eID) and document workflow as customers increasingly demand highly reliable and automated signature solutions.
  • Following the acquisition, Nitro will be in a position to become one of the top three global players in the business electronic signature market. This will become a reality, thanks to the combination of Connective’s highly reliable electronic signature capabilities and Nitro’s document productivity platform and its global reach in the marketplace.
  • Connective has a significant customer base, with more than 1,000 mid-market, business and government accounts across Europe, including 8 of the 10 largest banks in Belgium and more than 60 Belgian government agencies and departments.
  • Connective also has more than 30 eID and smart card integrations in 20 countries, the most of any eSign provider on the market today.

In the past two years, the transition to digital solutions has accelerated rapidly as organizations seek to deliver exceptional customer experiences while meeting the demands of an increasingly digital workflow. One of the central elements of this transformation is the rapidly growing electronic signature market, in which the highly reliable signature is becoming the standard.

Increased spending on eSigning

Spending on eSigning solutions globally is expected to grow at an annual growth rate of 29% over the next decade. The acquisition of Connective allows Nitro to further exploit the opportunity offered by the eSign market, valued at $ 17 billion.

Warning, scroll to continue reading

The acquisition of Connective represents a significant acceleration of Nitro’s enterprise electronic signature capabilities, as it provides a highly trusted signature through the full functionality of Advanced Electronic Signature (‘AES’) and Qualified Electronic Signature (‘QES ‘), at a time when customer demand for high security signature continues to grow. Nitro sees the addition of Connective’s highly reliable products to its Nitro Productivity Platform as an unbeatable opportunity, which already includes a powerful PDF productivity tool, a basic electronic signature, and industry-leading analytical capabilities.

Sam Chandler, Co-Founder and CEO of Nitro, has stated: “This is a key moment in Nitro’s growth story. With the acquisition of Connective, Nitro is uniquely positioned to become one of the top three global players in the rapidly growing business electronic signature market, at a time when increasing trust, Safety and regulatory compliance are vital to business success. With privacy and data security as a priority, the future of the electronic signature is built around highly reliable solutions based on electronic identification, and this acquisition positions Nitro to become a global leader in this field ».

Related Articles

Leave a Reply

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