Acquisition strengthens PSPDFKit’s product offering for line-of-business applications deployed on cloud-based and on-premises document management systems.
Vienna, Austria, January 21, 2022 – PSPDFKit, the leading document processing and manipulation platform for developers and enterprise businesses, today announced the acquisition of U.K.-based Muhimbi, a leading software solution provider for cloud and on-premises document management systems. This marks PSPDFKit’s first acquisition, following a €100 million strategic investment from New York-based global venture capital and private equity firm Insight Partners in September 2021 to fuel PSPDFKit’s next stage of growth. The acquisition advances PSPDFKit’s expansion into the low-code/no-code space, helping democratize robotic process automation, and enabling anyone to build document workflows that automate manual business processes.
Muhimbi’s software is trusted by thousands of leading enterprises across the globe for automatic PDF conversion, merging, securing, watermarking, and optical character recognition (OCR) of most file types, including MS Office, emails, InfoPath, CAD, HTML, and images. Muhimbi’s flagship products, PDF Converter Online and PDF Converter for SharePoint, empower users with powerful actions for PDF conversion and document automation through SharePoint, Microsoft Power Platform, Nintex Workflow, and more. Nearly 1 billion end users in more than 150 different countries rely on PSPDFKit’s software development kits every day while using web and mobile applications that are built on the company’s platform. Their combined offering will further enable tomorrow’s engineers and businesses to innovate beyond paper.
“We are thrilled to welcome Jeroen and the entire Muhimbi team to the PSPDFKit family,” said Jonathan Rhyne, Co-Founder and CEO of PSPDFKit. “With the acquisition of Muhimbi, we are broadening who can build innovative document solutions from IT specialists to a new group of builders who prefer easy-to-use low-code/no-code tools for automating repetitive document processing tasks. Adding Muhimbi’s product line to PSPDFKit’s current offerings will continue to fuel the expansion of our world-class document processing platform. Today’s news is just the beginning, as PSPDFKit looks to expand the scope, reach, and robustness of our platform to cover the entire document lifecycle and further obsolete paper.”
Jeroen Ritmeijer, Founder and CEO of Muhimbi, said, “We are excited to join PSPDFKit and become an integral part of the growing PSPDFKit family. Joining forces will undoubtedly help us bring new innovations to our existing customers and facilitate growth in both our companies while maintaining product quality and continued best-in-class support."
District Capital Partners served as financial advisor, Willkie Farr & Gallagher LLP served as legal advisor, and Deloitte served as accounting advisor to PSPDFKit during this transaction. ICON Corporate Finance served as financial advisor and Ashfords served as legal advisor to Muhimbi.
Muhimbi is a leading cloud software provider of mission-critical document conversion and manipulation functionality to thousands of high-profile international customers. Customers depend on Muhimbi’s software to produce a single searchable version of truth, enhance security, archive compliant documents, future-proof documents from technology obsolescence, and enhance document workflows. For more information on Muhimbi’s software solution for cloud and on-premises document management systems, visit www.muhimbi.com.
PSPDFKit develops software development toolkits and related frameworks that enable document creation, manipulation, collaboration, and innovation within its customers’ applications. The company’s products cover all major platforms and support a wide range of programming languages and can be deployed on-premises or in the cloud with ease and at any scale. PSPDFKit has earned its developers-first reputation by pioneering products that are easily integrated, completely customizable to fit any deployment and workflow, and trusted by startups, SMBs, and multinational enterprises alike. For more information on PSPDFKit’s document processing platform, visit www.pspdfkit.com.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.