Fishers-based tech company Formstack has acquired Massachusetts-based online data integration platform Bedrock Data. Formstack says the deal has allowed it to develop a full workplace productivity suite to directly compete with companies like Dropbox and Conga.
Financial terms of the acquisition are not being disclosed, however Formstack says all 10 of Bedrock’s employees will be joining the Formstack team. Taylor Barstow, chief executive officer of Bedrock Data, says his company’s vision aligns directly with Formstack’s vision.
"While Bedrock syncs data, Formstack workflows help manage the processes around how data is used within a department or team," Barstow said in a news release. "Together, we give users access to a more dynamic platform that will change how the industry views workplace productivity and data management."
This is the second acquisition for Formstack in the last three months. In December, the company acquired Toronto-based QuickTapSurvey. The acquisition also comes just weeks after Formstack announced plans to relocate its headquarters to Fishers.