Hyland Software (news, site) added to its inventory of content management (ECM) solutions with the recent acquisition of Hershey Systems, a provider of Web-based ECM solutions to the higher education market.
Growing In ECM
The acquisition makes Hyland one of the largest vendors in the ECM software for higher education, by adding nearly 200 colleges and universities to Hyland’s 200 higher education customers. Terms of the transaction were not disclosed.
“Acquisitions continue to accelerate our growth in key markets," said A.J. Hyland, president and CEO of Hyland Software. "In the past year, purchasing eWebHealth and Valco Data Systems added to our momentum in healthcare. Today, it's our largest vertical market. But there is also tremendous opportunity in higher education. Hershey is a respected and established company with a proven product. Joining with our team creates a company with an unmatched level of industry expertise.”
This acquisition, along with the other recent acquisitions over the past few years, has made Hyland one of the largest vendors in the ECM software market. From 2006 to 2009 Hyland grew its ECM license revenue by a compound annual growth rate of 22 percent.
Going After the Higher Ed Market
Hershey Systems’ flagship product, Singularity, is a Web-based ECM software suite that streamlines manual, paper and traditionally slow business processes. With nearly 200 higher education customers nationwide, Hershey primarily focused on higher education. Yet the company also provided services to approximately 140 courts and 100 businesses in the commercial space.
Hershey Systems employs about 30 people at three offices in the United States and one in the United Kingdom. While Hyland Software employs about 960 people, very little resources and employees were focused on the higher education sector before the acquisition.
“We’re dedicated to helping our customers meet their goals and be more successful,” said Hyland. “Our product enhancements and new releases are driven by feedback from our customers. This benefits customers in the form of original products that solve their real world operational problems. From development to service to training, our relationship with our customers is a partnership, and we take it very seriously.”
Keeping It Separate
Hyland Software’s flagship product is OnBase, an award-winning suite of document management and content management solutions. More than 9,400 organizations in 67 countries use OnBase, the company said. Earlier this year the company added support for SharePoint 2010 and Office 2010 to OnBase, as well as extend it to public kiosks via a partnership agreement.
During five previous acquisitions since 2006, Hyland incorporate the purchased company’s software into OnBase. Yet because Hershey System’s Singularity software system is a strong product, Hyland will keep selling the product. Hyland revealed it might take many years to incorporate Singularity into OnBase, if it decides too.