Upland Software, Inc. (Nasdaq: UPLD), an Austin-based work management software company, has acquired Waterfall International Inc., a San Francisco-based mobile messaging company, for $24.4 million.
"Upland Mobile Messaging is now the industry leader in engaging prospects, customers, and communities with compelling mobile content at an enterprise scale," Jack McDonald, chairman and CEO of Upland Software, said in a news release. "This combination provides Upland with an unparalleled feature-set that delivers value and deep services expertise to organizations in retail, consumer packaged goods, media and entertainment, healthcare, government, and advocacy."
Waterfall International, founded in 2005, uses text messaging and other mobile messaging to provide cross-channel marketing software for companies including 7-Eleven, Cabela's and Jack in the Box.
"Upland Mobile Messaging is the leading end-to-end, enterprise-grade mobile messaging platform," Jed Alpert, general manager of Upland's digital engagement product family, said in a news release. "Robust capabilities include smart campaigns, natural language-based messaging, and multi-channel communications across Facebook Messenger, Android RCS messaging, mobile wallet, and SMS/MMS."
The acquisition comes about a half year after Upland acquired Massachusetts-based Omtool Ltd., which sells secure document storage and sharing software, for $19.2 million.
Those moves were fueled, in part, by the $90 million line of financing Upland secured in 2016 from Wells Fargo Capital Finance and CIT Bank. Upland has now made a total of at least 12 acquisitions since its founding in 2013.
