In a sign of the growing presence of private cloud platforms, AbacusNext, a US private cloud vendor, has purchased document automation leader HotDocs.
HotDocs boasts a user-base of more than one million customers in 60 countries. It is expected that AbacusNext will integrate document automation into its products such as Amicus Attorney. The deal also includes the large library of document templates included in HotDocs’ online marketplace.
Russell Shepherd, outgoing CEO of HotDocs, added, “I was looking for an acquirer with the same grand scale of ambition as the HotDocs team, and Abacus has the ambition to take the combined businesses on to even greater heights. HotDocs offers Abacus the opportunity to expand vertically and internationally in one bold strategic move, through the acquisition of a global, market-leading brand.”
AbacusNext has increased its product offering to include practice management, customer relationship management, and expense management. This purchase of Hotdocs caps a year of expansion for AbacusNext, which saw acquisitions of Results Software, an award-winning CRM, OfficeTools, an industry leading practice management application, and Cloudnine Realtime, a hosting platform for accounting firms. AbacusNext appears to be building out a complete platform for law firms and other professionals.
Alessandra Lezama, CEO of AbacusNext, said in a press release, “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. 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.”
AbacusNext recognizes that rapid technology changes in recent years, together with increased pressure to reduce costs and increase mobility, is driving the movement to cloud-based technology, allowing firms in the professional services industry to reduce their costs and increase revenues.
For more information about the future of HotDocs, visit AbacusNext’s FAQs.