Two of the world’s leading providers of document management systems for the legal industry come together, as a cloud-based DMS company NetDocuments gain WorldDoxone of the oldest still operating DMSs, has been in business since 1988, primarily servicing small to mid-sized law firms.
In a briefing yesterday, Josh BaxterNetDocuments CEO, said the acquisition is aimed at accelerating NetDocuments’ growth among small and medium-sized businesses.
“The acquisition is a way for us to accelerate our presence in mid- to small-sized law firms and accelerate their journey into the cloud,” Baxter said.
Already, NetDocuments serves virtually every aspect of the legal market except for Solos, with clients of law firms ranging from five people to the largest corporations in the world. It also serves the legal departments of corporations and government agencies, including the Executive Office of the United States Attorney.
The acquisition also highlights the legal industry’s ongoing movement away from on-premises products to cloud solutions. While Worldox offers both on-premises and cloud versions of its product, the long-term goal of the acquisition is to eventually move all customers to the NetDocuments cloud.
At the briefing, both Baxter and Rebecca SatinCo-CEO and CIO of Worldox, said NetDocuments will continue to support all Worldox products, both on-premises and cloud, “for the foreseeable future,” maintaining existing licensing and subscription agreements for customers.
But the long-term plan is to work with Worldox clients to take them to the NetDocuments platform. Baxter predicts that customers who already use the Worldox Cloud product will be among the first to move, as they have “already made the decision to be in the cloud.”
Satin said Worldox customers will benefit not only from NetDocuments’ proven cloud technology, but also from its wide variety of partner and application integration.
“The cloud is the core of NetDocuments’ DNA,” she said. “We wanted our customers to have the opportunity to benefit from this DNA and have a direct path to the best and most proven cloud platform.”
6800 customers, 300,000 users
Through the acquisition, NetDocuments, founded in 1999, has become a company with a combined base of 6,800 customers and 300,000 individual users in at least 52 countries. Both firms serve not only law firms, but also legal departments and other legal organizations.
All but a small group of Worldox employees will be moving to NetDocuments. Satin, who was named co-CEO last month after the arrest of the company’s longtime chief who was already CIO, will become part of the NetDocuments customer success team.
(Baxter said the arrest had nothing to do with the acquisition, which had already been in the works since early this year.)
“We are delighted to welcome Worldox customers, partners, and employees to NetDocuments, and look forward to building on the strong relationships the Worldox team has built,” Baxter said. “Going forward, our focus will be on integrating Worldox customers into our evolving platform at their own pace, while fulfilling our commitment to all of our customers through continuous innovation on the NetDocuments platform.”
NetDocuments said it will host webinars for clients to answer their questions about the acquisition. Existing Worldox customers can also obtain more information by calling (844) 638-3696 or sending an email to email@example.com.
Leadership from both organizations identified a customer-first approach and a vision for the future as the key synergies that will align customers for success as they transition to future-proof their businesses with the industry-leading cloud destination management system.
Baxter credits Worldox for its leadership over the years in the field of document management. “Worldox has laid a lot of the foundation for why a legal DMS is so important to these small and medium-sized businesses,” he said. “They helped create the ecosystem that helped NetDocuments accelerate.”
The acquisition follows NetDocuments’ August launch of PatternBuilder, a document and workflow automation tool based on its acquisition of after patterna no-code toolkit for law firms and legal teams to create applications and automate legal documents and workflows.
“Industry trends among law firms and legal teams reflect the prevailing cloud-first strategy and desire to future-proof their organizations with platforms that can offer a variety of tools, seamlessly connect to other technologies, and scale according to their needs,” he said in a statement.
“NetDocuments’ proven ability to support these capabilities along with its commitment to creating new customer-inspired solutions, has made bringing our organizations together beneficial to all, partners, employees, and the legal industry as a whole.”
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