NetDocuments, the leading secure cloud-based document management, email management and collaboration software platform for law firms and corporate legal and compliance departments, backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”), today announced that it has acquired ThreadKM, a leading provider of collaboration technology. Financial terms were not disclosed.
NetDocuments’ cloud-first, cloud-only content management platform delivers secure, matter-based governance through industry leading encryption and compliance functionality. ThreadKM, winner of the 2016 ILTA Innovative Solution Provider of the Year, delivers intelligent, matter-based collaboration and agile project management. The combination will deepen the existing technology partnership and rich integration, to deliver a collaborative and dynamic environment to support the modern knowledge worker.
“We are thrilled to see the ThreadKM team and technology combine with NetDocuments as we continue to disrupt the legal and compliance market, displacing traditional technologies with modern, innovative productivity solutions built on the secure NetDocuments global cloud platform,” said Matt Duncan, CEO ofNetDocuments. “Today it is not enough for a matter workspace to exclusively contain documents and emails. Workspaces need to be brought to life with real-time conversations and simplified project management, which expands NetDocuments commitment to invisible technology adoption.”
"Communication and content creation are the core day-to-day tasks of the modern knowledge worker," said Dan Hauck, founder and CEO of ThreadKM. "By combining with NetDocuments, we introduce a new document collaboration experience to power the next generation of professionals. NetDocuments' multi-tenant, cloud-first approach accelerates our ability to deliver on the promise of ThreadKM and transform workflow for law firms and corporations globally.”
“The acquisition follows Clearlake’s platform growth investment in NetDocuments. We continue to expand our value and solutions through strategic technology acquisitions that extend our secure cloud platform,” added Josh Baxter, President and COO of NetDocuments. “This acquisition is an early example of our goal to accelerate innovation in the legal industry with cloud solutions and improve productivity for our customers."
The ThreadKM development team will join NetDocuments, led by Dan Hauck, who will become VP of User Experience at NetDocuments. NetDocuments will continue to support the existing ThreadKM customers.