Nintex has announced a definitive agreement to acquire K2 Software, a provider of digital process automation (DPA) software solutions. The terms of the deal were not disclosed.

K2 is Nintex's third acquisition since Thoma Bravo became the company's majority investor in early 2018. Upon closing this transaction, Nintex will serve more than 10,000 customers including approximately 50 per cent of the Fortune 500 and will generate over $US200 million in annual recurring revenue, making Nintex one of the largest independent software vendors for process automation.

"We are excited to be bringing together leading innovators in the digital process automation software market," said Nintex CEO Eric Johnson.

"Upon closing, Nintex and K2 customers and partners will benefit from an even broader range of process management and automation solutions. The combination of our respective development teams will further accelerate our pace of innovation in this growing market."

K2 Software is currently deployed to over 1.5 million users in more than 84 countries, including 30 per cent of Fortune 100 companies, to control business processes, increase visibility and improve operational efficiency.

"We are looking forward to delivering even greater value to our K2 customers by joining forces with Nintex," said K2 CEO and President Evan Ellis.

"Combining Nintex's solution portfolio with K2's complementary technologies will further enhance what commercial enterprises and government agencies can achieve through the power of digital process automation."