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Summary: Hyland Software Inc. Dec 11
Standard & Poors, Dec 2011
Abstract
The ratings on Hyland Software Inc. reflect its limited operational scale and relatively modest competitive position, with respect to much larger competitors with significantly more resources in the fragmented enterprise content management (ECM) industry. The company's predictable recurring revenue stream, stemming from high license renewal rates and favorable business segment growth, provides stability for the rating. Its limited revenue and EBITDA base and current ownership by a private-equity sponsor limit a possible upgrade. Hyland is a provider of ECM software solutions that enable organizations to manage, control, and share unstructured (text, images, emails, and digital content) and structured content. The company generally targets middle-market businesses. Its products are tailored for specific users and vertical markets, with a specific focus on...
Companies mentioned in this report are: Hyland Software Inc.
Action: Review
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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
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