Accounting technology provider AbacusNext acquires HotDocs

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fintech insurtech wealthtech regtech ai cybertech esg news

Legal, accounting, and business management company AbacusNext has acquired HotDocs for an undisclosed amount.

HotDocs is a document automation software provider that is in operation within 60 different countries. The company’s solution is used in legal, banking, insurance, government, public and cooperate sectors, to help increase accuracy, reduce cost and mitigate risk during document generation. Users are able to create and customise documents including contracts, sales agreements, government forms, and loan documentation.

AbacusNext provides legal and accounting specialists with compliance-ready technology to help complete a range of their business processes. Some of the solutions include a private cloud, law practice management, customised billing, book balancing and mobile solutions, among others.

As part of the transaction, AbacusNext will also acquire HotDocs Market, which is an online e-commerce platform that allows users to buy and use document templates.

AbacusNext CEO Alessandra Lezama said, “By leveraging the HotDocs platform and support staff, we’ll be able to offer organizations greater business efficiency than ever before, with the broadest value proposition to support customer growth. The combined company will have an unmatched position in serving clients by providing a complete end-to-end solution.”

Last week accounting-focused solutions has a rather period for deal closes, with four being completed. Smart finance and accounting solution ScaleFactor netted $2.5m in its funding round, while cash flow management application Treasury Intelligence Solutions bagged $12m in investments.

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