Upland Software, Inc., which last month acquired email platform PostUp, has added another firm to its roster, announcing on Monday that it has purchased Kapost, a content platform provider, for $50 million.
The new acquisition will add $15 million in annualized revenue, the company says.
Kapost will be part of Upland’s Enterprise Sales Enablement and Customer Experience Management suites.
The acquisition adds “an established enterprise customer base, experienced operations platform to our sales and marketing solutions,” states Jack McDonald, CEO of Upland Software.
The purchase price includes $45.0 million in cash at closing and a $5.0 million cash holdback payable in 12 months, subject to indemnification claims, Upland says.
Now branded as Upland Kapost, the firm offers open architecture, APIs and collaboration capabilities to help brands orchestrate their content planning, production and distribution, Upland says.
The move follow Upland’s $138M+ public offering earlier this month.
The recent acquisitions are part of “the company’s master plan to consolidate the enterprise cloud application software market and roll up a world-class suite of enterprise sales and marketing enablement software solutions,” a spokesperson says.
In April, the company announced it had acquired PostUp, a specialist in email and audience development for publishing and media brands, for $35 million in cash. This acquisition is expected to add roughly $11 million in annual revenue to the mix.
Last year, Upland acquired UK-based email service provider Adestra Ltd. for $56 million in cash at closing, adding to further consolidation in the email services field.
Meanwhile, Upland reported that it expects revenue to total between $$50.5 and $52.5 million for the quarter ending June 30. This includes subscription and support revenue between $47.2 and $48.8 million.
Recurring revenue will see 45% growth year-over-year. In addition, it foresees total annual revenue to hit between For $209 million and $213.0 million for the year ending on December 31.
This total includes between $195 million and $198.2 million in subscription and support revenue.