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Basware buys Verian

April 7, 2016  |  Merger, Acquisition, Funding

Basware announced to have acquired Verian. Verian is a leading cloud-based solution provider in the fast-growing purchase-to-pay market. Verian, headquartered in the Charlotte, North Carolina metro area, is a leading provider of cloud-based purchase-to-pay solutions.  Verian was founded in 1998.

The acquisition of Verian (1) brings additional cloud-based customers and added e-procurement capabilities to Basware’s portfolio, (2) strengthens Basware’s market position in the US, (3) supports Basware’s strategy to grow its cloud-based business revenues in key markets and (4) enables Verian customers to leverage the power of the Basware Commerce Network and its financing services.

Esa Tihilä, CEO, Basware Corporation:
“Verian is a strong fit with Basware’s strategy, cloud-focused business and culture. This acquisition will strengthen Basware’s sales momentum in the US, add new customers, and additional e-procurement capabilities to help accelerate growth. Verian created a strong position in the industry with its 100% cloud-based purchase-to-pay solutions, as evidenced by its annual subscription revenue growth exceeding 40%. Jointly we will continue to enable our customers to buy and pay for goods and services in a simplified, paperless, and cost-efficient way.”

Tehseen Dahya, CEO, Verian Technologies:
“We are tremendously excited about the combined value Basware and Verian will bring to our customers and the overall market. The Basware and Verian solutions complement each other to offer customers the most comprehensive purchase-to-pay, commerce network and financing services globally available today.”


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