SYDNEY, AUSTRALIA: Nitro Software Limited (ASX: NTO) has confirmed the completion of the Connective NV acquisition for an enterprise value of €70 million (~US$81 million).

The acquisition and funded by the recent A$140 million (~US$105 million) capital raising.

The capital raising also provided the company with additional liquidity, with pro forma cash of US$45 million as at 30 September 2021.

Nitro’s Co-Founder and Chief Executive Officer, Sam Chandler, said: “This is a milestone moment, with Connective adding highly secure, enterprise-grade eSigning, eID and workflow capabilities to Nitro’s existing eSign solutions at a time where increased trust, security, and regulatory compliance are vital to business success.

The powerful combination of Connective’s market-leading products and our global sales network with 12,000+ existing business customers presents enormous opportunities to further bolster the Nitro Productivity Platform and drive additional demand.”