Bellevue-based tech company Nintex has acquired EnableSoft, a robotic automation provider, to strengthen its workflow management platform.
Nintex, which generated $100 million in revenue in 2017, is one of the largest companies in the workflow automation industry.
The move was announced March 4 on Nintex’s official blog by Eric Johnson, CEO of Nintex. Johnson lauded the functionality and accessibility of EnableSoft’s product, Foxtrot RPA, and committed himself to bringing Foxtrot to serve even more clients.
RPA stands for “robotic process automation.” Foxtrot RPA is a program that uses bots to systematically automate busywork and repetitive data-entry tasks for businesses. Instead using employee time to manually update customer information, or create financial documents, Foxtrot is able to automate these processes quicker than competing software, even at Nintex.
“We want to make RPA beneficial and affordable to enterprise organizations,” Johnson said, “paired with the rest of our process management and automation offerings like process mapping, workflow automation, forms, mobile apps, document generation, and e-signatures.
Johnson said that while RPA was a fantastic product, a limited client base meant that it “failed to scale across the enterprise as buyers expected.” The acquisition of EnableSoft means that Foxtrot will be integrated into Nintex’s automation platform, helping both Nintex and EnableSoft customers.
This isn’t Nintex’s first acquisition to strengthen its platform. Nintex acquired Promapp last year to increase the accessibility of its automation processes. Nintex, a privately-held company, did not publicly acknowledge how much it acquired these firms for.
Nintex has been expanding, acquiring companies that expand its process mapping and automation software, and even branching out into the e-signing market. The company struck a deal with Adobe last month to offer electronic document signing services through Nintex. This move puts them in direct competition with DocuSign, the market leader in e-signature technology with a market cap at more than $9 billion.
The global workflow automation industry is in its infancy, but demand for automation software is already booming in several markets. The industry is valued at $5.22 billion, but according to an Orian Research report, the industry will grow to more than $29 billion by 2026.