Archive for Merger, Acquisition, Funding

Billtrust buys Open Scan Technologies

July 18, 2014  |  Merger, Acquisition, Funding

By offering an even more integrated solution, Billtrust wants to deliver clients significant operational advantages including recognizing their payments with greater efficiency and speed. Billtrust already offers bill presentment and payment products and services that span online, email, mobile, IVR, bank and paper.

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HighJump Software Acquires Atlas Products International, Expands Global Trading Partner Network in Europe

Michael Cornell, CEO of HighJump Software: “Atlas offers a unique set of solutions that allow companies to more efficiently transact business electronically and compete more effectively in a connected marketplace. This acquisition extends our global trading partner network, both functionally and geographically, and complements our existing HighJump B2Bi business which leads the market in Denmark and Nordic region of Europe and our TrueCommerce trading partner integration network in North America."

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Tungsten receives formal UK PRA approval to start the Tungsten Bank

Tungsten receives formal UK PRA approval to start the Tungsten Bank

The Board of Tungsten has received approval from the UK's Prudential Regulation Authority (PRA) for the formal change of control in the recently acquired FIBI. The fully UK authorised Bank will be re-named tot the Tungsten Bank and will soon start offering supply chain finance: a major opportunity for UK SME's as well as entire supply chains.
And there is more good news: Tungsten has today begun providing invoice discounting services to selected US customers.

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BREAKING: Lexmark wants to buy Readsoft for $US182 million. Cash.

Lexmark International, has announced that it has made a $US182 million cash offer for ReadSoft. The offer has been unanimously recommended by ReadSoft's Board of Directors. Since acquiring Perceptive Software in 2010 for $US280 million, printer giant Lexmark has been acquiring a suite of document capture process and content management offerings. Such as Pallas Athena in 2011 for $50.2 million. ReadSoft will now be added to the Lexmark portfolio if the offer is accepted.

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Short: BancTec acquired by investment firm and integrated with Dataforce

Short: BancTec acquired by investment firm and integrated with DataforceHandsOn3 is a global buyout manager based in Santa Monica. It announced that it along with Delos Capital Management has completed the previously announced acquisition of BancTec. BancTec is a major Business Process Outsourcing (BPO) company.
HandsOn3 will combine BancTec with its existing portfolio business, Dataforce Group, with the goal to create one of the largest BPO businesses addressing the transaction processing, workflow and document management markets.

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Proactis buys the EGS group, Clear Invoices for GBP 2.8 million

Proactis Holdings, a specialist spend control software provider, has acquired the EGS Group for £2.9million. EGS group is also active in the e-invoicing arena with Clear Invoices. It is said that the enlarged group will be the largest independent e-procurement service provider for the UK public sector.
For the year to 31 December 2012, EGS reported a turnover of £2.8million, with an operating profit of £404,000. EGS now has more than 70 clients, principally in the public sector, that use the EGS software to control more than £2.5billion of spend through 40,000 active suppliers.

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Descartes acquires Compudata, a Swiss B2B supply chain integration and e-invoicing provider for USD 17.9mln

After InterCommIT, Infodis and KSD it is now time for Compudata to be acquired by Descartes. Compudata is one of the bigger providers of B2B supply chain integration and e-invoicing solutions in Switzerland.
The all cash purchase price for the acquisition was CHF 16.0 million (approximately USD $17.9 million at December 20, 2013). Descartes funded the purchase price for this acquisition by drawing on its existing acquisition line of credit.

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OpenText buys GXS for USD 1.165 billion! These are the financial and business details

After buying Cordys last August, OpenText now unveiled the acquisition of GXS for a mere USD 1.165 billion. OpenText wanted to buy GXS as it envisions that we are going to enter an era of Enterprise Information Management. The GXS acquisition strengthens the Information Exchange Pillar of OpenText with the addition of market leading cloud-based B2B integration services.
After closing the deal, OpenText and GXS together expect to serve more than 55.000 trading partners and 80.000 customers and support approximately 16 billion annual transactions in the cloud. For those interested we have some neat details on this deal.

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Medius acquires Ascendo, adding 500 customers to its portfolio

Medius AB has acquired the assets and bankrupt’s estate of the Swedish procure-to-pay and invoice process provider Ascendo Systems AB. The deal covers Ascendo’s assets and Medius acquires Ascendo’s products, competence and customer base with more than 500 satisfied customers.
The acquisition is in line with Medius’ growth strategy and strengthens their position on the Swedish market.The business will be managed from Ascendo’s office in Östersund, from which solutions and customer relationships will continue to be supported, maintained and developed.

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BREAKING: Tungsten acquires OB10 (valued at £99m) and buys a bank too!

Tungsten Corporation has agreed the conditional takeover of OB10 for £99m in cash and shares. Tungsten also signed a five-year rolling licence agreement with @UK plc to deploy its analytic software technology to enable TungstenAnalytics to be delivered across -now- Tungsten's global e-invoicing network.
And Tungsten has another trick in its sleeve. It also decided to acquire an identified duly authorised UK bank, whose assets solely comprise short term UK gilts and/or certificates of deposit and to seek admission to trading on AIM.

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