Software development firm snapped up by global business

A North Yorkshire Electronic Document Management (EDM) Software development firm has been acquired by an international business with 45 offices across the globe as it prepares for further growth.

Opentree, headquartered in Stokesley, provides EDM solutions for the management of the entire document lifecycle of projects. Its clients include multinational blue chip clients such as Tata Steel and Siemens and the firm also has a development office in Sheffield.

It has been bought by Graitec, a global firm with 45 offices across Europe, America and Russia, at a time when there is increasing industry complexity around data projects and delivery.

Practices and businesses with a further requirement to publish project data externally to a hosted environment are often faced with the challenge of interfacing with different vendors. But with Opentree, clients can effectively manage  internal documentation and model information locally throughout the project lifecycle.

Andrew Frank, Opentree Managing Director, said: “By joining Opentree and Graitec, our customers will further benefit from being owned by a company with a long history in design and collaboration, who have the skills and expertise to push Opentree even further into the market of W.I.P management. We see this a key strategy for all customers to manage this process better than they do today.”

Park Place Corporate Finance provided corporate finance advice and 3volution provided legal advice to the shareholders of Opentree.

Richard Firth, director at Opentree, said: “We’ve worked with Opentree over many years helping guide the business towards a sale.  We are delighted to have concluded this deal with a strategic acquirer that recognises the potential of Opentree’s products and is prepared to invest in the business to drive future growth.”

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