The private equity fund that currently runs the show is only interested in milking the core product for license revenues. The level of window dressing that goes on to position themselves as a technology company in spite of this, is frankly bananas. Alas, it's just sales and legal strong arming haphazard companies into paying recurring license fees for stuff they don't need.
I guess PDF was already on its way out at the time of the acquisition, and their products themselves have a very 2000s feel to them. The founder had a good run and cashed his check at the right time. There just isn't enough interesting stuff left to do with PDF, and iText for sure isn't the company that'll be doing it.