Monday, March 23, 2015

Accusoft Acquires Document Sharing Platform edocr In All Cash Deal

It would be remiss of us not to mark the final exit of possibly one of the oldest startups (of recent years) out of the UK. Edocr was launched way back in 2007, going up against Scribd and Docstoc, in the document sharing, publishing and lead capture space. But while those guys scaled with VC funding, the boot-strapped edocr ploughed its own path with a subscription model. Hence the rather long exit.
It’s now been acquired by Accusoft, which is known as a venerable player in the OEM software business for document, content and imaging solutions, but which works with Yahoo. This acquisition now gives Accusoft a cloud document platform it didn’t have before, obviously, and is aimed at Accusoft’s core customers of SMEs. Terms were not disclosed, but we understand it was an all cash deal
Jack Berlin, CEO Accusoft says they plan to switch eDocr’s platform from paid to free for use and offer Accusoft Cloud Services as a part of edocr products. Each user will get 1000 documents, leads and analytics plus integrations. Then Accusoft will replace the edocr document viewer with their own technology.
Manchester, England-based Founder CEO Manoj Ranaweera, who bootstrapped the company himself for 8 long years and never took any outside investment (that’s grit!), is not staying on. He said at the end they had nearly 200 countries on the platform.

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