Doxim, a portfolio company of U.S. private equity firm Strattam Capital, has acquired Intelligent Document Solutions Inc (IDS.com), a Madison Heights, Michigan-based provider of secure e-document and statement solutions. No financial terms were disclosed. Doxim, a Toronto-based provider of customer engagement software for banks, credit unions and wealth management firms, said the deal extends its market reach to more than 1,500 financial institutions serving more than 25 million consumers. Doxim was acquired by Strattam in 2014. Strattam and the company’s founders and management helped finance the IDS.com deal.
Acquisition Expands the Doxim Customer Engagement Platform across North America, Adding over 500 U.S. Financial Institution Clients
Herndon, VA / Madison Heights, MI (PRWEB) September 6, 2017
Doxim (www.doxim.com), a leading provider of SaaS-based customer engagement software for banks, credit unions and wealth management firms, today announced the acquisition of Intelligent Document Solutions, Inc. (“IDS.com”) of Madison Heights, Michigan.
IDS.com provides secure eDocument and statement solutions to more than 500 banks and credit unions. IDS.com offers the expertise, infrastructure, efficiency and reliability that financial institutions demand from a document solutions provider, plus cutting edge integrated customer communication solutions.
After several years of continuous collaboration to deliver world-class technologies to their respective customers, IDS.com and Doxim have now formalized their partnership. By joining forces with IDS.com, Doxim extends its market reach to over 1,500 financial institutions that serve more than 25 million consumers. With $50 million in combined revenue, Doxim has the resources to continue investing to meet the growing needs of its clients to engage their customers through a single end-to-end digital platform.
“The vision that Doxim is working towards is closely aligned with what IDS.com stands for, and we are excited to become a part of a focused journey to deliver a best-in-class digital customer engagement solution to financial institutions,” said Bill Hayden, CEO of IDS.com “Our clients will benefit from the broad, innovative set of SaaS solutions that Doxim has been offering to the industry. It is a win for our employees, who will have expanded opportunities for professional growth by contributing to Doxim’s culture of innovation and collaboration.”
Bill Hayden will continue to provide insights and strategic guidance to the combined company’s leadership team by joining the Doxim Board of Directors as Vice Chairman.
“Our business has been growing in the U.S. for several years, and over that time, I have been increasingly impressed with the business Bill Hayden has built through tireless devotion to quality, integrity, and commitment to IDS.com’s customers. Thanks to Bill and his team, IDS.com has grown to become a leading provider, consistently delivering quality solutions,” said Chris Rasmussen, Founder & CEO of Doxim. “We believe that the Doxim Customer Engagement Platform offers valued additional capabilities to IDS.com clients and their end customers.”
The needs that Doxim addresses with its Customer Engagement Platform are highlighted as key priorities by market executives in a recent CEB, now Gartner, research poll. CEB, now Gartner, writes, “Financial institution executives have indicated the following priorities in their digital transformation initiatives: improving the customer onboarding experience across channels, deploying enhanced analytic capabilities for marketing and sales, and reducing processing time to achieve real-time decisioning.” As an organization with a larger geographic footprint and broader customer base, Doxim will be able to drive this digital transformation in the financial services industry quickly and efficiently.
Doxim will leverage the investments made by IDS.com into technology, infrastructure, and talent to offer all of its clients an end-to-end solution for statement processing and customer engagement. The new, combined Doxim will expand its focused investments in R&D, with the goal of staying at the cutting edge of customer needs, which in turn will deepen the reach and adoption of its SaaS-based Customer Engagement Platform. Doxim has a long history of partnering with banks and credit unions, and it looks forward to introducing all current IDS.com clients to the rich capabilities of the Doxim Customer Engagement Platform.
The acquisition was financed with an equity investment from the Doxim founders and management along with Strattam Capital, and debt provided from PNC Bank, N.A., PNC Bank Canada Branch, and funds managed by GSAM Private Credit Group.
Doxim is a leading provider of SaaS-based customer engagement software for banks, credit unions, and wealth management firms. The Doxim Customer Engagement Platform helps financial institutions transform their client experience, communicate effectively throughout the client lifecycle and improve cross sell and upsell activities that drive increased wallet share. The platform addresses key digitization challenges, from automated account opening, through improved, personalized communications to anytime, anywhere content access, tailored to a client’s channel preferences. This enables cost-effective provision of an omni-channel experience that delights customers and improves their long-term loyalty. Find out more at www.doxim.com.
Intelligent Document Solutions (IDS.com) is a leading provider of secure eDocument solutions, high speed color print and mail production. IDS.com has the expertise and infrastructure to deliver virtually any document solution a financial institution could need. With decades of experience in the field and a broad range of capabilities, IDS.com is fully suited to integrate marketing campaigns to meet whatever service your credit union, bank, or organization may need. Visit www.ids.com to learn more.
About Strattam Capital
Strattam Capital is a private equity firm with an innovative and focused approach to scaling established business IT companies. Our team’s alignment and engagement practices are designed to deliver a better future for our companies. Strattam has offices in Austin and San Francisco. To learn more visit www.strattam.com.
Photo courtesy of IDS.com