PowerSteering Software, a portfolio company of Silverback Enterprise Group in Austin, Texas, has changed its name to Upland Software and acquired FileBound, a Lincoln provider of cloud-based workflow automation and document management software.
Terms were not announced.
Upland said the acquisition was part of a strategy to build a family of cloud products that address a comprehensive range of needs from strategic planning to work execution. Upland said it had more than 1,200 enterprise clients and 300,000 active users in 50 countries.
FileBound, 1701 Cushman Drive, provides an integrated workflow and document management system that can be deployed as a cloud-based service or implemented locally, the companies said.
“Joining the Upland family will give us access to the resources we need to achieve the growth we envision for FileBound,” Dan Yount, president of FileBound, said in a news release. “This is an extremely positive next step for FileBound’s customers, partners and business, which will improve our ability to deliver innovative, high-quality workflow automation and document management software.”
FileBound management, development, marketing, sales and support teams will stay in place and continue to run the product line, Upland said.
With the addition of FileBound, Upland said its cloud applications spanned strategic planning, portfolio management, workforce management, professional services automation, workflow automation, document management and team collaboration.
Upland said it would pursue additional acquisitions. FileBound is the fifth acquisition by a Silverback Enterprise Group company in the past 20 months. Silverback acquired PowerSteering Software in February 2012.