Formstack acquires Fast Forms business from Toronto firm

Indianapolis-based tech firm Formstack LLC announced Tuesday that it has acquired the Fast Forms business unit from Toronto-based software company Visual Antidote.

The acquisition provides Formstack the rights to the Fast Forms software application, one of the more popular apps on the Salesforce AppExchange, and gives the company its first application on the exchange.

Terms of the deal weren’t disclosed.

The application has been renamed Formstack for Salesforce as part of the transaction.

Visual Antidote’s entire eight-member Fast Forms team will join Formstack. The team will remain in Toronto and work there as part of Formstack's remote workforce.

Fast Forms was created in 2014 to help users quickly create web forms and surveys. The 2017 update ranks among the top 50 applications out of about 3,300 apps available on Salesforce AppExchange. The exchange is 10-year-old online marketplace of business software products—similar to the Apple App Store, but geared toward businesses.

Formstack officials declined to provide sales figures for the Fast Forms app, but said the acquisition will give the company about 1,500 total customers on the Salesforce exchange.

Fast Forms is keeping the same per-user annual pricing for the Professional ($708) and Enterprise ($1,068) versions of the application, and has added a Native Cloud version priced at $5,400 per year per user.

“As the market continues to demand more tools to manage and improve business processes, Formstack will continue to answer back with simple solutions that automate and speed up workflows,” Formstack CEO Chris Byers said in written comments. “Fast Forms has built an outstanding product for the AppExchange, and we’re thrilled to have the opportunity to continue building this great product and offer our customers a more complete service as a result of the acquisition.”

Founded in 2006, Formstack lets clients build online forms that help them collect data—such as survey results, event registration, business leads, patient information—that can be used to make decisions faster. The company has around 15,000 customers, with more than 500 in health care fields.

The firm has about 80 employees and reported nearly $10 million in revenue in 2016.

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