Tampa-based software company Accusoft has entered into a definitive agreement to acquire Snowbound.
The acquisition of Snowbound, a leader in document viewing and conversion space, will be Accusoft’s largest acquisition in its 30-year history, Accusoft announced Wednesday.
“Today, we celebrate the joining of two companies who have both driven significant innovation for web-based viewing, conversion, and imaging SDK technologies. I have always had the utmost respect for Snowbound’s leadership team and their employees as we have competed against one another for sales opportunities over the decades. I am honored to bring Snowbound into the Accusoft family,” Accusoft CEO Jack Berlin said in the company’s news release.
The transaction will expand Accusoft’s presence and be able to leverage Snowbound’s tech to give customers a more robust web-based document viewing experience.
Accusoft will wait until January to take operational control of Snowbound. In the meantime, the two leadership teams will partner to transition the team and its assets.
The financial terms of the acquisition were not disclosed.
“We were incredibly selective as we looked for the right acquisition partner. We were deliberate in selecting an organization with a leadership team and product portfolio that would be compatible with our own, and that would continue to grow, develop and nurture what we have built at Snowbound,” Simon Wieczner, CEO of Snowbound, said in a statement.
Massachusetts-based Snowbound is known for its VirtualViewer technology, which supports numerous formats including, PDF, Microsoft Office, AFP, DWG, TIFF, email, video, audio files and more within one universal interface. It works with Fortune 2000 companies, including some of the largest banks in the United States, the biggest health care providers, tech giants, government agencies worldwide and insurance companies, according to its website.