Archive for Merger, Acquisition, Funding

Sovos continues expansion with the acquisition of FiscalReps

By acquiring FiscalReps, Sovos can better prepare insurers for the digital future of tax compliance and reporting as it expands its European operations to support its global clients.

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Opus Capita acquires Swiss e-invoicing portal Billexco

The Billexco network is used by 15 000 supplier companies and 70 buyer organizations in Switzerland and Central Europe, and it is one of the three e-invoicing gateways to the Swiss government.

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Sovos acquires Paperless, creating the 1st global solution for B2G reporting 

With the acquisition, Sovos adds eReceipts to its real-time tax reporting solution, expands its presence in Brazil and extends Latin American operations to Chile, Colombia and Peru.

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Pagero raises EUR 10 million for international growth

The company says it will use the funding to expand in Europe and North America, and to expand its workforce to 250 employees.

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Thomas Bravo / Hyland buys Readsoft, Kofax, Perceptive Software from Lexmark

Kofax and ReadSoft will unite to create a single, independent company under the Kofax brand. The Perceptive Software business will become part of Hyland.

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Robotic Accounting start up raises USD30 million investment

UiPath, a New York-based company that uses computer-vision to automate repetitive business processes involving software, has raised $30 million to help expand globally, according to DigitalCommerce360.

The move comes as companies increasingly look to artificial intelligence to solve the sorts of routine tasks, such as checking invoices and inputting data from human resource forms into databases, that they once outsourced to low-cost human contractors.

UiPath’s software, unlike most macros, can carry out tasks across any software the business is using. In addition, users can train the tool with a set of rules or steps for analyzing the data it is handling. For instance, it could look up data from an SAP system, check if it meets certain conditions, and then input it into a Salesforce database.

UiPath says that it has 200 customers, including Lufthansa, Generali, Telenor and Dong Energy. It also has partnerships with consulting firms Deloitte and Capgemini, which often recommend its products to their clients.

The market for what is known as robotic process automation software is expected to reach $8.75 billion annually by 2024, up from about $125 million in 2015, tech research firm Grand View Research wrote in an October 2016 report. Grand View estimated that these software solutions are, on average, 60 percent cheaper than using humans to perform the same tasks and cost 30 percent less than using contractors in low-paid countries, such as India.

With the $30 million new investment, UiPath said it will be adding more “cognitive capabilities” to its product, such as natural-language processing and document sorting, so that it can handle both structured and unstructured data.

UnifiedPost acquires Onea and Nomadesk

April 7, 2017  |  Merger, Acquisition, Funding

With the acquisitions UnifiedPost moves a step forward in its aims to offer a one-stop-shop portfolio of B2B services to its customers.

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Tradeshift buys the IBX Platform from CapGemini

March 10, 2017  |  Merger, Acquisition, Funding

What started as a partnership with Tradeshift to complement the IBX platform and address the full source-to-pay needs of clients, ended up in a acquisition.

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HighJump TrueCommerce buys RedTail Solutions

RedTail is a US provider of managed cloud service solutions for Electronic Data Interchange (EDI) and global data synchronization network (GDSN)

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Three major e-invoicing investments you might have missed in 2016

$18 million was invested in AP provider AvidXchange, $30 million in Transactis, a provider of electronic billing and payment solutions. And there was the deal with GreenSky a payment solutions provider.

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