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BRIEF-Upland Software acquires Qvidian Corp for $50.0 mln in cash, raises guidance
November 17, 2017 / 2:15 PM / in a month

BRIEF-Upland Software acquires Qvidian Corp for $50.0 mln in cash, raises guidance

Nov 17 (Reuters) - Upland Software Inc

* Upland Software announces largest acquisition to date, raises guidance

* Sees Q4 2017 revenue $26.5 million to $27.5 million

* Sees FY 2017 revenue $96.7 million to $97.7 million

* Upland Software Inc - ‍ has acquired Qvidian Corporation​

* Upland Software Inc - ‍purchase price paid for Qvidian was $50.0 million in cash​

* Upland Software Inc - ‍acquisition will be immediately accretive to Upland’s adjusted EBITDA per share​

* Upland Software Inc - ‍for full year ending December 31, 2017, adjusted EBITDA is expected to be between $29.7 and $30.3 million​

* Upland Software Inc - ‍has acquired Qvidian Corporation, a provider of cloud-based RFP and sales proposal automation software​

* Upland Software Inc - ‍expects acquisition to generate annual revenue of approximately $19.5 million of which approximately $17.3 million is recurring​

* FY2017 revenue view $96.3 million -- Thomson Reuters I/B/E/S

* Q4 revenue view $26.1 million -- Thomson Reuters I/B/E/S

* FY2017 revenue view $96.3 million -- Thomson Reuters I/B/E/S Source text for Eikon: Further company coverage:

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