Hyland Software acquires Calif. company
Hyland Software Inc. has made the first of what it hopes will be many acquisitions under its new majority owner. The Westlake document management software company has purchased Liberty Information Management Solutions of Costa Mesa, Calif., for undisclosed terms, according to a Hyland Software news release. The acquired company, which also sells document management software, has more than 1,000 customers and offices in both Costa Mesa and Ottawa, Ontario. The offices will remain open, but the release did not state if all Liberty Information Management Solutions employees would keep their jobs.
A request for more information placed with a Hyland Software spokesperson Wednesday afternoon was not immediately returned.
Hyland Software said it bought the company to expand its customer base, its network of resellers and its talent base in both the western United States and central Canada. The Westlake company has been aiming to acquire other companies in the document management software field since private equity firm Thoma Cressey Bravo bought 58% of Hyland Software for $265 million last July.
Hyland Software has about 700 employees and has sold its OnBase software to about 7,200 businesses and government agencies. It surpassed $100 million in revenue for the first time in 2007.
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