Nitro Software (ASX:NTO) signs off on PDFpen acquisition

Company News

by Lauren Evans

Nitro Software (ASX:NTO) has completed the acquisition of PDFpen for the document format PDF, extending productivity to Mac, iPad and iPhone users, and enabling Nitro to serve all workers across businesses globally. 

Nitro Software is a global document productivity company driving digital transformation in organisations around the world. Nitro's all-in-one software for working remotely was engineered to accelerate daily tasks, save time and make it easier for employees to do their job.

On 28 June 2021, Nitro announced the acquisition of PDFpen technology from US-based Smile, for US $6 million. The transaction was subject to customary closing conditions, which have now been satisfied.

The PDFpen provides comprehensive document viewing, reviewing and collaboration experiences combined with powerful editing tools, which enable users to sign PDFs, fill forms, search and redact sensitive information, and export to Microsoft Word, Excel and PowerPoint.

Nitro co-founder and chief executive officer Sam Chandler said, “the completion of the PDFpen acquisition marks a significant strategic milestone for Nitro and represents a major advance in Nitro’s mission to make document productivity easy, powerful and available to all.”

Following the acquisition, Nitro retains significant cash reserves, providing the company with the flexibility to pursue other targeted, value-enhancing acquisitions.

Shares in Nitro Software (ASX:NTO) are trading 2.47 per cent lower at $3.16. 
 

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