Software maker Scrypt to merge with Calif. company

Dec 24, 2014
Austin Business Journal

Scrypt Inc., a document management software maker, is merging with California-based Axacore Inc.


Austin-based Scrypt, which was founded in 1998, plans to continue operating in Austin where it employs 25 workers. The merger is scheduled to be completed on Dec. 31, according to a Tuesday news release


Financial terms of the deal were not disclosed but the combined company will be called Scrypt


Axacore, which is based in San Diego, was founded in 1996 and employs 15 workers. Its software is designed to enable users to manage and automate the flow of documents


Scrypt CEO Aleks Szymanski will remain in his position and Axacore Chief Technology Officer Nick Basil will become Scrypt's CTO and join the combined company's board of directors


Scrypt develops document productivity tools designed to eliminate manual processes and paper to save time and money. The company claims more than 30,000 customers in 50 states. In 2013, it reported revenue of $2.5 million


Szymanski was previously the founder of Skela Ltd., a boutique consultancy to technology-related businesses, and the founder of Itineris NV, a British digital marketing agency, according to his online profile


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