Software company GetBusy has added two bolt-on acquisitions to its SmartVault offering.
Cambridge-based GetBusy, listed on London’s AIM market, develops productivity software for professionals and financial services.
The deals for DocDown and Quoters feature a cash payment upfront while earnouts, set at 1x annualised recurring revenue in early 2023, will be capped at £500,000 apiece.
Quoters, based in Spain, automates proposals and quotes, simplifying a core part of the client workflow for accountants and financial services professionals.
US firm DocDown uses online web forms, web hooks and APIs to automate the population of forms and templates, removing the need for error-prone manual transfer of information.
Expected to contribute revenue in 2022, they will complement SmartVault, a cloud-based productivity, document management and storage software solution with a substantial market share in the US accounting, bookkeeping and tax markets.
GetBusy also reported recurring revenue growth of 12% in Q3, the same rate as the previous quarter.
“We are delighted to welcome DocDown and Quoters into the GetBusy family with a common goal to make professionals productive and happy,” said Daniel Rabie, CEO of GetBusy.
“We know our clients spend valuable billable hours initiating client engagement and need more help streamlining administrative tasks so they can focus on fee-earning activities.
“This is compounded by the need for professionals to navigate increasing complexities around privacy legislation, cyber security concerns and flexible work patterns.
“Our growing solution portfolio is specifically tailored to manage this workload, allowing our customers to be more efficient, profitable, compliant and differentiated.
“Following the two acquisitions announced today, we have a clear roadmap to integrate these new functionalities into our rapidly growing SmartVault product, providing additional value to our substantial user base and becoming even more embedded into our clients’ digital infrastructure.
“We are excited about the future with our growing capabilities, combined with an expanding market opportunity, leaving us well-placed to execute our ambition of sustained double digit recurring revenue growth and a doubling of ARR within five years.”