Hyland recently announced its fifth acquisition since 2020, finalizing an agreement to purchase content services provider Nuxeo. The acquisition enables Hyland to inject tried and true digital asset management (DAM) technology into its existing portfolio of content services tools. According to Ed McQuiston, EVP and CCO at Hyland, the deal reinforces a commitment to providing their customers with the latest cloud-native, open-source technology and to expanding their global presence.
Who is Nuxeo?
Nuxeo is a content services solutions provider. You may have even read one of their articles at WorkflowOTG.com. Their flagship solution, the Nuxeo Platform, provides customers with cloud-native, low-code, open-source ECM/document management, DAM, case management and claims management solutions. But although Hyland will take on Nuxeo’s entire business in the acquisition, an analyst event with Hyland’s John Phelan and Ed McQuiston emphasized the importance of Nuxeo’s DAM technology.
What’s Digital Asset Management?
DAM enables businesses to store, search for, and work with their digital and rich media assets. DAM technology will also typically feature some sort of workflow automation capabilities and leverage AI/ML components to help businesses predict, classify, and enrich content. You can think of it like a document management or ECM solution, but specifically for managing content like images, video, 3D models, 360-degree video, and so on.
DAM solutions are quite useful for solving a wide range of problems for a variety of customers, like large enterprises, retail businesses, or those in the entertainment or publishing industry. It can handle simple tasks, like tagging, organizing, and storing a large volume of digital assets, as well as more complicated ones like delivering end-to-end digital rights management and licensing capabilities. For example, DAM technology can be used to identify the specific design and cut of a shoe or garment in a video, or the specific time and location that the video was captured.
Strategic in Nature
Hyland really has become an innovation-obsessed content services provider that approaches the market very strategically. That unquenchable thirst for innovation seems to be leaving them in a constant state of evaluation.
Sometimes it’s better to develop your technology organically, from seed to table. Other times, market conditions don’t allow that. If you need to go to market quickly or you don’t currently have the in-house expertise to develop on your own, it’s better to buy or partner with someone with an established product. In the case of implementing DAM technology into their existing portfolio, Hyland decided the best path forward was to buy. And buy they did.
So, why Nuxeo? The company has some very powerful DAM technology that is highly regarded by the industry. John Phelan, EVP and CPO at Hyland, was particularly interested in the solution’s AI-ML capabilities, as well as the expertise that Nuxeo’s staff will bring to the table. “The algorithms and engineering teams converging will be a great thing for Hyland,” he said.
Pedigree aside, the solution fits in nicely with Hyland’s existing philosophy of giving the customer what they want: a cloud-native, open source, low-code solution that enables businesses to get the most out of their digital content. With Nuxeo integrated into their Hyland Experience Platform, they have something for the customers that want to buy something off the shelf, as well as those who are interested in building their own solution.