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Evernote Acquires Penultimate

Evernote’s growth looks like it’s not going to slow down anytime soon. The company recently got $70 million in its last round of fundraising and now enjoys a $1 billion valuation. The hit productivity and memory platform is now hard at work building up its presence and its newest move is to acquire Penultimate.

Penultimate is an iPad handwriting app and it is now officially a part of Evernote. According to Evernote CEO Phil Libin and Penultimate CEO Ben Zotto, Evernote’s acquisition of Penultimate will benefit both companies. Penultimate will remain an independent app (which means it will be developed separately from Evernote) but at the same time it will also be integrated into Evernote, making it a native application.

Evernote has been interested in Penultimate ever since the app debuted two years ago. It took that much time for Penultimate to eventually go into the Evernote fold. According to Zotto, Penultimate will remain a separate app but will also become the gateway into the all the productivity powers of Evernote.

Evernote’s acquisition of Penultimate is part of what Libin describes as Evernote’s creative period – the stage in the company where it takes risks into development and experimentation. Even though Evernote has not released any kind of mergers and acquisitions list, the company is going to focus on certain key areas, among these are the improvement of collaboration, sharing, and group productivity. The company is also going to look into how it can further improve how Evernote will fit into the user’s business environment. Other areas Evernote says it will get into include international expansion and platform extension.

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