Signority, known for its SOC 2 and CSA STAR Level 2 compliance, provides organizations with secure, automated digital signatures for seamless digital transactions.
The acquisition aims to utilize FileCloud’s global platform for increased scale, growth, and efficiency, establishing a strong presence in Canada alongside its expanding global footprint. Although the value of the deal has not been disclosed, the acquisition is expected to be accretive to annual recurring revenue (ARR) and cash flow starting from the fiscal third quarter of 2024.
FileCloud supports thousands of organizations in managing extensive business-critical data, ensuring compliance and governance. Signority focuses on solving complex e-Signature and document workflow issues in regulated industries. The complementary nature of both solutions, coupled with a shared focus on customer-centricity and superior support, allows FileCloud to simplify content management for customers in a highly secure and compliant manner.
FileCloud CEO Ray Downes said, “Remote work and the push towards digitalization has expanded customer requirements for supporting digital workflows with their enterprise content. e-Signature represents a key component within our customer’s content lifecycle management and workflows. This acquisition will help us accelerate our impact for customer digitalization, enabling them to meet compliance requirements for sensitive content processing.”
Signority CEO Jane He said, “We are extremely proud of what we’ve been able to achieve as a business. As part of FileCloud, I’m confident that Signority will thrive in the next chapter of its journey. Not only will the combined portfolio provide great benefits to customers and partners, but the cultural and strategic alignment will provide an ecosystem for global scaling and success. The complementary nature of our product portfolios means that we will be able to broaden the use cases we can address for customers with a range of content compliance and governance requirements.”
