Both companies sell process automation software. Founded in 2000, K2 counts 30% of the Fortune 100 as customers and has 1.5 million users across 84 countries. The company raised more than $100 million in 2015 from private equity powerhouse Francisco Partners.
Nintex said it will have more than 10,000 customers and generate more than $200 million in revenue after the deal is closed. Investment firm Thoma Bravo purchased a majority stake in Nintex two years ago. It’s the third acquisition for Nintex since the Thoma Bravo deal.
“We are excited to be bringing together leading innovators in the digital process automation software market,” Nintex CEO Eric Johnson said in a statement. “Upon closing, Nintex and K2 customers and partners will benefit from an even broader range of process management and automation solutions. The combination of our respective development teams will further accelerate our pace of innovation in this growing market.”
Terms of the deal were not disclosed. Nintex is ranked No. 15 and K2 is No. 16 on the GeekWire 200, our list of top-ranked privately-held tech companies across the Pacific Northwest.