Upland Software drops $5M to buy Cupertino company

November 17, 2015

Upland Software Inc. has acquired Ultriva Inc. in a cash and share deal.

The acquisition is Austin-based Upland Software’s (Nasdaq: UPLD) ninth acquisition in the past four years.

In a filing with the U.S. Securities and Exchange Commission, Upland disclosed it paid $4.9 million plus 225,000 of its common shares, among other considerations, to acquire the company.

Upland Software, which develops cloud-based enterprise software, last acquired a company in late 2014, when it bought New York-based messaging software developer Mobile Commons Inc. Prior to that it bought Solution Q in November 2014 for $5.8 million.

Ultriva, founded in 1999 and based in Cupertino, California, also develops cloud-based enterprise software, but has developed a niche in targeting the manufacturing industry.

Upland also released its financial results for the third quarter. Total revenue increased 5 percent to $17.1 million from the same quarter last year, but the company posted an overall loss of $2.3 million, or 16 cents per share.