According to Access, the deal will enable it to grow its existing US market, enter new markets in Europe and provide it with access to new technologies and data centers in the US, Canada and Europe. Financial details of the deal were not disclosed.
The acquisition is the latest in a string of acquisitions by Access — 95 since 2004. The buying spree accelerated in October 2014 when the Boston-based investment firm Berkshire Partners bought a majority stake in Access.
Access, at the time, claimed to be largest privately-held provider of records and information management services in North America. Given Access’ acquisition activity under CEO Rob Alston and President John Chendo, there is little reason to doubt that claim.
Both Alston and Chendo are old hands here with years of experience behind them in records and information management and together they built Access through a combination of organic growth and complementary acquisitions.
The result is a substantial stake in the records management market in the US, along with a growing presence in Latin America.
For its part, Archive Systems delivers unified document management solutions that provide a bridge between paper and digital records storage and control.
It also provides a wide range of services to enterprises, including records management consulting, records storage, imaging and secure destruction.
Among its cloud-based software solutions, it provides applications that automate business processes while providing insight through advanced analytics as well as embedded information governance.
Chendo cited the addition of a new, skilled workforce to Access as one of the benefits of the acquisition. But another elements of note are the Archive Systems data centers in US, Canada, and Europe.
With geo-location of documents and data growing in importance for compliance reasons, this will become a real game-winner of any vendor that can sell its products and offer its customers a choice of locations to store their data.
Already, many of the bigger vendors have seeing the writing on the wall here — think of Microsoft and the announcement of data centers in Germany – and are investing accordingly.