Xential announces the acquisition of Eformity

The acquisition marks the first step in Xential’s buy-and-build strategy since its management teamed up with the strategic software investor Main Capital Partners in June 2023.

Eformity, established in 2013 and headquartered in Alblasserdam (The Netherlands), is a provider of a multi-tenant SaaS document creation & template management platform. The product is available as a seamless add-in into the Microsoft suite. Next to the strong integration into the Microsoft suite, the product also integrates with various other software systems. The company services a sector-agnostic customer base and is used in >20 countries.

Building a leading document creation software group
Eformity marks the first add-on acquisition for Xential and will allow Xential to expand into new verticals and geographies, while further solidifying Xential’s leading position in the Benelux and DACH region. With more than 350 customers combined, the group will be well-positioned to become a leading document creation software provider in Europe. Finally, the combination will improve the value proposition towards both existing and new clients in a highly competitive market.

Ronald Bode, Chief Executive Officer and Founder of Eformity, is looking forward to joining forces with the Xential team: “Xential is an excellent strategic and cultural match for Eformity. We share similar cultures and ambitions and we are finally bringing together all of the smartest experts within the field of document creation to establish an even stronger offering for our combined customers.”

Ruud Vos, Chief Executive Officer of Xential, foresees a fruitful strategic partnership with strong potential to offer a value-added proposition together with Eformity across international markets: “The acquisition of Eformity is a strategic choice and a natural step in the direction of building a solid powerhouse within document creation. Eformity focuses more on ad-hoc creation and Xential focuses more on complex documents in different processes, therefore seamlessly complementing each other. I am very much looking forward to collaborating with Ronald and the rest of the Eformity team.”

Ivo van Deudekom, Investment Director at Main Capital Partners and Chairman of the Supervisory Board of Xential, concludes: “Various trends and drivers, including the increasing need for efficiency in the workspace and the increasing importance of retaining and managing historical records, are expected to drive the estimated ca. 15-20% annual growth of the document management & creation software market in the upcoming years. Eformity is capitalizing on these market trends via their strong position within the Microsoft ecosystem, offering even more growth, scalability and internationalization opportunities following the combination. With Eformity and Xential, we combine two leading organizations in the document creation & template management software market, resulting in a strong foundation for additional European expansion.