PALO ALTO, Calif. - Intapp, a provider of AI-powered software for professional services firms, announced today the acquisition of Transform Data International (TDI), a company specializing in digital workplace solutions based on Microsoft (NASDAQ:MSFT) 365 applications. The acquisition aims to enhance Intapp's collaboration capabilities and implementation services within Microsoft's ecosystem.
TDI, a longtime Intapp partner, has developed software add-ons for Intapp Collaboration solutions, serving clients in over 15 countries. Their Workhub solution offers a pre-integrated user interface that simplifies task management for professionals, aligning with modern working methods.
Pat Archbold, General Manager of the Collaboration business unit at Intapp, stated that the merger of Intapp's solutions with TDI's expertise will improve clients' workflow in Microsoft applications and set the foundation for advanced AI tools such as Copilot.
The acquisition brings TDI's team of collaboration specialists on board, including individuals skilled in sales, services, research and development, engineering, and client support. Walter Henrard, Co-Founder and CTO of TDI, expressed enthusiasm for the integration, emphasizing the importance of user-friendly collaboration tools to enhance productivity for accountants, advisors, and lawyers.
Intapp's software is designed to help professionals harness their team's knowledge and insights to add value to their firms. The company's vertical SaaS solutions aim to assist in making informed decisions, managing risk, and gaining competitive advantage. Intapp serves a variety of sectors, including accounting, consulting, investment banking, legal, private capital, and real assets.
The financial terms of the acquisition were not disclosed. The information regarding the acquisition is based on a press release statement from Intapp.
InvestingPro Insights
As Intapp (INTA) integrates Transform Data International to bolster its AI-powered software offerings, the company's financial landscape presents a mixed picture. With a market capitalization of $2.29 billion, Intapp is making strategic moves to strengthen its position in the professional services software market. According to InvestingPro data, Intapp has experienced a robust revenue growth of 26.74% in the last twelve months as of Q2 2024. This growth is indicative of the company's expanding reach and potential to capitalize on its recent acquisition.
However, it's important to note that Intapp has been trading near its 52-week low, reflecting a potential undervaluation by the market. This is further underscored by a significant price drop of 30.92% over the past three months. Intapp holds more cash than debt on its balance sheet, which is a positive sign of financial health and may provide the flexibility needed to navigate market fluctuations and invest in growth initiatives like the TDI acquisition.
InvestingPro Tips suggest that while Intapp has not been profitable over the last twelve months, analysts are optimistic about the company's future, predicting profitability this year. Additionally, five analysts have revised their earnings upwards for the upcoming period, signaling confidence in Intapp's strategic direction and potential for improved financial performance.
For those considering investment opportunities, Intapp is trading at a high Price / Book multiple of 6.15, which may warrant a closer look at the company's intrinsic value and growth prospects. To explore further InvestingPro Tips and gain deeper insights into Intapp's financials, visit https://www.investing.com/pro/INTA. There are 6 additional tips available on InvestingPro, and readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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