Combined capabilities empower organizations to improve customer satisfaction, lower costs and drive greater efficiencies
FRISCO, Texas, Jan. 05, 2023 (GLOBE NEWSWIRE) -- Redwood Software, the industry leader in full stack automation, today announced its acquisition of Tidal Software, a leading enterprise workload automation provider. The acquisition adds increased depth and breadth to Redwood's already extensive suite of automation solutions, which includes RunMyJobs, ActiveBatch and JSCAPE. By joining forces, it also builds on Redwood and Tidal's shared commitment to being laser-focused on automation, innovation and customer success.
"Our acquisition of Tidal is another significant milestone in Redwood's journey to unleash human potential through the power of automation," said Redwood Software CEO Kevin Greene. "Together, we will create a more transformative partner and automation leader capable of empowering organizations to automate their mission-critical business processes."
With the collective strength of both companies, no other provider comes close to the full stack automation solutions that Redwood delivers. Tidal's modern platform, 60+ integrations and rapid implementation capabilities add to Redwood's already unrivaled set of intuitive, developer-grade integration and automation capabilities. And, like Redwood, Tidal is 100% focused on enterprise automation.
"Tidal's leading enterprise automation solutions are excellent additions to Redwood's robust end-to-end automation portfolio," said Chase Sorgel, a Turn/River operating partner and member of the Redwood Board of Directors. "While most automation providers are challenged to serve both business and IT teams, Redwood is uniquely positioned to ensure every one of its customers can achieve transformative business outcomes with complete confidence and control. The Turn/River team is thrilled to partner with Tidal and Redwood by providing growth capital and go-to-market support for the continued expansion of the platform."
Redwood relentlessly invests in delivering innovative automation solutions to transform customer and employee experiences. As one company, Redwood and Tidal will bring new technology and services to market even faster. And, by combining Tidal's CustomerFIRST approach with Redwood's global customer success team, organizations will be better supported than ever.
"Redwood and Tidal coming together is a win for our customers, partners and employees," said Tidal Software CEO Rick McNees. "Our companies are built around putting customers first and we share a common vision for unleashing the power of automation. We are excited to join the Redwood family and get to work accelerating the pace of innovation in the enterprise automation market."
To learn more about Redwood's full stack automation portfolio and unwavering commitment to customer success, visit www.redwood.com.
KPMG Corporate Finance served as exclusive investment banking advisor and Much Shelist served as exclusive legal advisor to Tidal on the transaction. Turn/River was advised by Lincoln International and Orrick.
About Redwood Software
Redwood Software is the leader in full stack automation for mission-critical business processes. With the first SaaS-based composable automation platform specifically built for ERP, we believe in the transformative power of automation. Our unparalleled solutions empower you to orchestrate, manage and monitor your workflows across any application, service or server - in the cloud or on premise - with confidence and control. Redwood's global team of automation experts and customer success engineers provide solutions and world-class support designed to give you the freedom and time to imagine and define your future. Get out of the weeds and see the forest, with Redwood Software. www.redwood.com
About Tidal Software
Tidal Software is a leading provider of enterprise workload automation solutions that orchestrate the execution of complex workflows across systems, applications and IT environments. With a comprehensive portfolio of products and services, Tidal optimizes business-critical processes, increases operational efficiencies and satisfies audit requirements for regulatory compliance. Enterprises around the world count on Tidal for modernizing their workload automation and driving their digital transformation.
About Turn/River Capital
Turn/River specializes in growth capital investments, founder liquidity, buyouts, spin-outs, and recapitalizations of technology, web, and SaaS companies. Its strategy is to combine rigorous, iterative marketing, sales, and operational execution with flexible capital to help companies double and triple their growth and build value for everyone. Turn/River Capital is headquartered in San Francisco. For more information, please visit www.turnriver.com.
RunMyJobs®, ActiveBatch® and JSCAPE® are registered trademarks of Redwood Software, Inc.
All other trademarks listed herein are owned by their respective companies.
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