Morgan Stanley Expansion Capital, the private investment platform within Morgan Stanley Investment Management, has sold its interest in DocuWare to Ricoh.
Financial terms of the transaction were not disclosed.
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DocuWare is a provider of document management and workflow automation software.
The firm, based in Germany and the US, has a customer base of over 12,000 in more than 90 countries.
DocuWare co-founders Jürgen Biffar and Thomas Schneck said: “Expansion Capital has been a great partner to DocuWare, supporting us not only with additional growth capital, but also with the leadership and creativity necessary to help us achieve our business and financial goals in a sustainable way.”
Morgan Stanley Expansion Capital first invested in DocuWare in 2012.
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By GlobalDataThe aim was to ramp up the growth of the software company.
Notably, a year after the investment, DocuWare purchased Connecticut-based Westbrook Technologies that offers content services software.
Commenting on its partnership with DocuWare, Morgan Stanley Expansion Capital head Pete Chung said: “We were attracted to DocuWare given the longstanding track record of profitable and capital efficient growth combined with our prior portfolio experience and success in the content services software market.
“We are pleased to have supported DocuWare during an exciting growth period, and with this investment outcome.”
