Formpipe Acquires EFS Technology to Support Growth Strategy

Formpipe, an innovative software solution leader, has acquired EFS Technology Ltd. (EFS), a leading output and document management software supplier to the banking and manufacturing sectors.

EFS and Formpipe have been successfully partnered for many years, both delivering solutions within document and data management, making EFS the perfect partner for Formpipe’s growth strategy.

As an ISO27001 certified business, EFS is dedicated to information security and industry best practices which align with Formpipe’s own operating principles, ensuring a singularity of vision for the future. EFS provides a 24/7 support service to their international customer base, which will enhance Formpipe’s already strong network of highly skilled partners in the private sector. EFS’ technical and commercial expertise, combined with their ability to introduce and support new partners in the global sale and delivery of Lasernet, will ensure a swift and seamless integration into Formpipe's Private Sector business area.

This acquisition also provides the opportunity to increase the rate of growth in EFS's recurring revenue, by a transition to a business model with a larger proportion of subscription revenue (SaaS).

Mike Rogers, Commercial Director Private Sector, Formpipe, said: “This is a really exciting opportunity for both companies to expand their offerings and engage further with the markets. I can assure all customers and partners that we are keen to invest in the current software and systems, ensuring continued delivery of leading products and services to you”.

EFS founders, Alan Devon and Anthony Airey, also commented: “We have enormous respect for Formpipe's expertise and quality products and are excited to be part of the Formpipe family. Together, we will continue our commitment to work towards our customers' digital transformation. Based on our extensive experience within the banking and finance sector, we look forward to immediately being able to contribute to an expanded partner network and helping more customers to benefit from Formpipe's offering”.

Formpipe is committed to delivering the same, fantastic level of service already established by EFS. Through investment in new product sets, Formpipe will also offer new and exciting opportunities for current customers, partners and new markets.

About Formpipe
Formpipe is a software company in the field of Enterprise Content Management (ECM) and listed on the Nasdaq OMX Nordic.

Lasernet has unrivalled integration with Microsoft Dynamics 365, NAV, SAP and Infor along with other ERP solutions and delivers business documents in almost any format imaginable. A Microsoft Gold Partner and member of Microsoft’s Technology Adoption Program (TAP), Formpipe Lasernet is sold and supported through a certified network of global partners.

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