It's an all-Austin deal.
Upland Software, a publicly traded enterprise workplace management software company, announced it is acquiring Austin-based email services startup PostUp for $35 million.
The deal is poised to add $11 million in annual revenue to Upland's balance sheets, which will now brings it to $205 million in annual revenue run rate.
PostUp's email software help marketers provide personalized, engaging emails that help build lasting relationships. It works with NBC, HBO, Sony and several other big companies.
“PostUp’s market leading capabilities establish audience identity through email capture, browser push, and actionable insights from integration with Google Analytics data to create hyper-targeted audience segments," Jed Alpert, Upland's executive VP and general manager of CXM Solutions, said in a news release.
The deal is just the latest in a long string of deals and mergers for PostUp, which was initially founded by Capital Factory founder Joshua Baer in his dorm room in 1996. At that time, the company was called Skylist and its main product was StormPost.
It was acquired by Datran Media in 2006. In 2011, StormPost expanded its capabilities and achieved new traction. A year later, in 2012, it was merged with ContextWEb and StormPost's original tech was renamed PulseConnect. Then, in 2014, Dallas private equity firm Transition Capital Partners acquired PulseConnect and rebranded it as PostUp, with Baer on the board.
PostUp is now led by CEO Tony D'Anna, who joined the team in 2014 after serving as executive VP at PulsePoint, according to his LinkedIn page.
One of its most recent product advances was a browser push notification, which provides direct connections without signing up for emails.
“Email is bigger than ever, and it’s growing fast. Every generation uses email, which cuts through the digital clutter like nothing else," Upland CEO and Chairman Jack McDonald said in a prepared statement. "That’s why we acquired PostUp, to add powerful technology that will allow businesses – particularly those in the publishing and media industries – to reach their customers through email ..."
