Levi Ray & Shoup, Inc. has announced that it is acquiring U.S.-based Drivve Inc. and affiliated companies in Europe. This digitalization software provider will join the Enterprise Output Management division of LRS.
According to Drivve Inc. CEO Thilo Lutzeler, “Like LRS, the Drivve team has been focused on optimizing specific elements of the document lifecycle. Separately, each company has become a leader in its own market space; together, we will be able to offer customers a comprehensive document ecosystem that streamlines every aspect of information capture, imaging, management, security, and distribution. We are very excited to help LRS bring these best-of-breed solutions to market.”
John Howerter, LRS senior vice president of Enterprise Output Management, added “By incorporating the Drivve software functionality into our EOM software suite, we will dramatically expand our ability to support the digitization and business process improvement projects that exist in our customers’ organizations.”
Scott’s Upshot
Anybody else noticing that this is the year of big software acquisitions? This is the third notable acquisition of a software company in the past two months, following this week’s announcement that ECI was buying Print Audit, and last month’s news that Kofax was acquiring Nuance. Other notable acquisitions include ECI’s acquisition of PrintFleet back in January and Konica Minolta’s acquisition of MWA. We expect to see a few more of these acquisitions going forward. Although it’s speculation at this point, we wouldn’t be surprised to see some consolidation within the document management space.
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