Tiugo, which is backed by PSG, has acquired CKSource, a provider of rich text editing and document collaboration software for developers. No financial terms were disclosed. Marcin Majewski of Aventis Capital served as financial advisor to CKSource on the deal.
BOSTON–(BUSINESS WIRE)–PSG, a leading growth equity firm partnering with software and technology-enabled services companies to help accelerate their growth, in combination with Tiugo Technologies (“Tiugo”), a PSG portfolio company focused on assembling a collection of global, API-first developer platforms in the document and data management market, announced the acquisition of CKSource, a provider of rich text editing and document collaboration software for developers. Financial terms of the deal were not disclosed.
Today’s announcement marks Tiugo’s first investment. The team, led by Mark Hatton, a Senior Advisor at PSG1 and Chief Executive Officer of Tiugo, believes the investment opportunity for Tiugo’s expanding platform is underscored by significant market demand for tools to support document management, collaborative workflows, customer engagement, and security and authentication. Scott Heimes, previously Chief Marketing Officer at both Zipwhip and SendGrid, will join the Tiugo team as Growth Advisor, helping Tiugo portfolio companies scale and optimize their go-to-market strategies.
“We believe there is an extensive market for the various tools needed to support software development that is continuing to grow at a rapid pace as the need for these tools compounds exponentially. Our goal is for Tiugo to offer a suite of market-leading developer platforms to help them scale,” said Hatton. “CKSource adds enterprise-grade rich text editing and document collaboration to our platform, and we’re eager to continue to expand our offerings through additional acquisitions.”
Headquartered in Warsaw, Poland, CKSource has created a solution for developers looking to build web applications and fortify internal content management systems with a streamlined rich text editing capability, file management and collaborative editing solutions. The platform has proven to be a critical tool for both blue-chip organizations and start-ups, with over 1,500 customers, including Disney, Salesforce, Elsevier and Zendesk.
“As the digital revolution accelerates, ensuring companies have efficient and effective document review editing processes is mission-critical,” said Wiktor Walc, President and Chief Product Officer of CKSource. “With this in mind, we’ve developed our product ecosystem to help address these specific needs, and through our continued product innovation, we’re committed to providing our diverse, digital-forward customer base with the solutions they require. We look forward to continuing to serve our customers with Tiugo and with the support of PSG.”
“We’re excited to support Tiugo as it continues to broaden its capabilities through acquisitions of companies like CKSource with an aim to deliver a comprehensive platform for the software developer community,” added Marco Ferrari, Managing Director at PSG.
PSG’s Marco Ferrari, Managing Director, Paul Russ, Principal, and Kristie Han, Vice President, will join Mark Hatton on Tiugo’s Board of Directors.
Marcin Majewski of Aventis Capital served as financial advisor to CKSource.
PSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 100 companies and facilitated over 400 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Paris, Madrid and Tel-Aviv. To learn more about PSG, visit www.psgequity.co