AbacusNext acquires HotDocs
Continuing its spate of acquisitions in the accounting technology space, AbacusNext has bought HotDocs, a document automation software provider. Previously this year, the technology-as-a-service provider also bought customer relationship management software company Results Software, cloud hosting provider Cloudnine Realtime, and practice management software maker OfficeTools.
The terms of the deal were not disclosed.
HotDocs is based in Toronto, and has customers in 60 different countries and a global user-base of over a million. The software is mostly popular among legal, banking, insurance, government, public and corporate professionals, for use in complex documentation processes. Users can generate customized documents such as contracts, sales agreements, government forms and loan documentation.
HotDocs offers a marketplace, also acquired by AbacusNext, where professionals can access thousands of document templates from the AbacusNext portfolio. Populated with content created by publishers and state bar associations, HotDocs Market has attracted 9,000 users, according to the company.
“HotDocs’ document automation software is the perfect addition to our portfolio and will make an immediate impact for our client base of legal and accounting firms,” said Alessandra Lezama, CEO of AbacusNext, in a statement. “By leveraging the HotDocs platform and support staff, we’ll be able to offer organizations greater business efficiency than ever before, with the broadest value proposition to support customer growth.”