SaaS provider Diligent buys BoardLink from Thomson Reuters

US$10 million all-cash deal sees rival providers of board management software combine.

New Zealand-listed Diligent Corporation has acquired the assets of BoardLink, Thomson Reuters' SaaS collaboration software for company boards, for US$10 million.

Diligent said the buy added more than 250 new clients and 9,000 users and strengthened its position as the leading provider of corporate governance and collaboration SaaS software for boards and senior executives.

Brian Stafford, chief executive and president of Diligent, said there was a strong alignment between our two companies and the acquisition provided a broader platform from which to expand and innovate.

Diligent management expects BoardLink to contribute nominally to revenue and to be neutral, on a non-GAAP basis, to adjusted net income per share for the fourth quarter ending December 31, 2015.

Diligent, however, expects BoardLink to be accretive to full year 2016 adjusted net income per share. The company will provide more details about the expected financial impact in its third quarter 2015 earnings call scheduled for November 10.

Diligent, with nearly US$100 million in annual recurring revenue, has over 3300 clients in more than 60 countries for its SaaS system Diligent Boards, formerly Diligent Boardbooks.

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