What Does this Acquisition Mean?
For Hyland, this acquisition is part of its mission to expand its enterprise content management suite and provide clients with a variety of tools and related solutions. More specifically, with AnyDoc, Hyland will be able to offer clients a more “robust capture-enabled solution,” adding the ability to capture and process data from structured, semi-structured and unstructured documents to Hyland's existing capabilities.
This union will not only ensure end users have a strong, reliable capture platform now and into the future, but will offer opportunities to leverage the OnBase product suite to expand and meet an organization’s complete ECM strategy,” said a company statement.
The OnBase product suite, which was updated to version 12 last year and AnyDoc have had integration capabilities in the past and Hyland ensures that this relationship will continue as the company works on strengthening its Enterprise CMS offerings.
Hyland and AnyDoc: A Parallel
AnyDoc which operates under the motto of “Any Document. One Solution. No Problem" was founded in 1989 and offers a variety of tools aimed at making the documentation process easier. Some of their solutions and products include AnyDoc Invoice, AnyDocClaim and OCR for AnyDoc, a data capturing tool. As for Hyland, it was established in 1991 to offer companies a paperless option for content management strategies.
According to industry blogger and editor of the Document Image Reporting, Ralph Gammon this acquisition was a long time coming, as the two companies often worked with the same businesses or side by side, as was mentioned with the use of the OnBase product suite.
It's always been a good fit, as both companies have sold primarily through reseller channels and certainly have complimentary technology,” he says. "Hyland and AnyDoc, in fact, share several channel partners who integrate AnyDoc's capture on the front end with Hyland's ECM on the back.”
He also agrees with the company statement that the two solution providers will compliment each other and help expand the Hyland brand.
The synergies between the two companies should be great, he says. AnyDoc's software, which was never its weakness, will now be available to the entire Hyland channel. Plus … Hyland gets a mature and robust capture product, which should only assist with their efforts in the ECM space where leaders like Documentum, Open Text, and IBM, have also acquired capture ISVs.”
Specific details such as the purchase price or any product developments that will be made have not been released.