Avanquest Enters Into a Binding Agreement to Acquire the German Software Publisher, PDF forge
Summary
With this latest acquisition, Avanquest reaffirms its ambition to establish itself as the key competitor of Adobe Acrobat in the PDF document management software segment. This performance has been driven by its successful customer acquisition campaigns as well as the strength of its recurring revenue model, which represented 83% of the total sales of Avanquests PDF segment in H1 2021-20221. Philip Chinery and Frank Heindörfer, PDF forge’s co-founders and executive directors commented: "This acquisition represents a natural outcome of our close collaboration with Avanquest. Baker McKenzie, under the direction of Berthold Hummel, partner of the Munich office, acted as legal advisors for the PDF Forge Acquisition. Supported by a team combining several decades of experience in the world of technology, Claranova has acquired a unique know-how in successfully turning around, creating and developing innovative companies.