London-based enterprise software firm SkyDox is joining forces with Workshare, a document collaboration software firm that’s headquartered in San Francisco, California with offices in London and a few other cities worldwide.
Workshare will raise £20 million (roughly $32.2 million) in growth capital to support the de-facto merger, tapping into funds from a UK investor group led by Scottish Equity Partners that also includes Business Growth Fund.
F**k it, we'll do it live!
Our biggest ever edition of TNW Conference is fast approaching! Join 10,000 tech leaders this May in Amsterdam.
Existing investors in Workshare include Intel Capital and SPARK Ventures.
In a press statement, Workshare argues that, by joining forces with SkyDox, it can expand its existing document collaboration software suite by adding cloud-enabled file sharing, synchronization, storage and search services and technologies.
SkyDox CEO Anthony Foy, formerly Group Managing Director at Interxion, will be retained as CEO of the joint company. Scott Smull, the ex-CEO of Workshare, will stay with the company and have “multiple key executive responsibilities as part of the Executive Integration Team and spearheading customer advocacy activities”.
Workshare co-founder Barrie Hadfield was appointed to CTO.
The integration of Workshare and SkyDox operations is expected to be completed during the second half of 2012, and support and development for Workshare and SkyDox products will continue sans interruption.
Software integration teams working with beta customers intend to deliver a combined application within the next 90 days, even.
In total, Workshare claims, more than 1.8 million professionals in 70 countries rely on its enterprise software solutions to increase productivity and safeguard their confidential information.