Smartsheet Inc. (NYSE:SMAR) recovered 2.28% in last five trading session after it has purchased Outfit, a brand management company headquartered in Australia.
Bellevue-based work Management Company would not specify the number of workers or financial details of the purchase, which completed on Thursday, but a Smartsheet representative said the Outfit team will join Smartsheet’s marketing and creative platform Brandfolder. The Outfit crew will operate remotely, according to the spokeswoman.
The brand management, templating, and creative automation platform Outfit was bought by Smartsheet, the enterprise platform for dynamic work, increasing the company’s investment in Brandfolder by Smartsheet, the top DAM solution in the market.
The CEO of Smartsheet, Mark Mader stated that many companies rely on digital assets to survive. We are increasingly witnessing the benefits that collaborative work management and digital asset management solutions can provide for their clients. He added, their goal with Brandfolder is to be the leading creative automation solution on the market, and they are strategically investing to strengthen their leadership position. Adding Outfit to their award-winning Brandfolder platform extends the content experience they can offer their new and existing customers who want to create content at scale, at speed, on brand–every time.
Smartsheet intends to incorporate Outfit’s design automation and templating capabilities into Brandfolder as soon as possible, so that existing and future clients may gain even more value from a more sophisticated DAM and content automation experience.
Smartsheet’s sixth purchase in four years, following Converse.AI, Slope, 10,000ft, and Brandfolder, signals the company’s next step toward establishing itself as the collaborative work management platform of choice.
Smartsheet Inc. (NYSE: SMAR), the enterprise platform for dynamic work, reported financial results for the second fiscal quarter ended July 31, 2022 today.
President and CEO of Smartsheet, Mark Mader said “Our strong quarterly results demonstrate the value customers are seeing from our core platform and premium capabilities.” “Smartsheet empowers customers to unlock the potential of their teams and achieve better business results, giving them an edge in today’s macro environment. As we head into the second half of the year, we’ll continue our disciplined operational approach while delivering innovation to help our customers succeed.”