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Upland Software Acquires Adestra In $60.2M Deal

Upland Software, Inc., provider of cloud-based enterprise work management software, has acquired email marketing, transaction and automation software company Adestra Ltd. for $60.2 million.

The acquisition adds fundamental components to Upland’s CXM Solution Suite, including multichannel messaging and email, automated mobile conversations, marketing automation, personalization and more. Adestra’s cloud solution is designed to help companies understand and engage individual customers with relevant, timely and effective communications. The offering will be combined with Upland’s mobile messaging, customer engagement and knowledge management solutions.

"Adestra broadens Upland's product portfolio, strengthens our CXM solution suite and builds our sales capacity and footprint," said Jack McDonald, Chairman and CEO of Upland Software, in a statement. "Moreover, the transaction is immediately and meaningfully accretive to adjusted EBITDA per share and takes Upland to an approximate $190 million annualized revenue run rate. As this transaction demonstrates, our acquisition pipeline is robust and we are actively pursuing additional opportunities."