Basware, a provider of e-invoicing and purchase-to-pay solutions, has announced that it has acquired Verian, a cloud-based P2P solution provider.
The acquisition aims to strengthen Basware’s market position in the U.S. and support Basware's strategy to grow its cloud-based business revenues in key markets. Verian brings additional cloud-based customers and added e-procurement capabilities to Basware’s portfolio. The acquisition will also enable Verian customers to leverage the Basware Commerce Network.
Esa Tihilä, CEO, Basware Corporation. says: "Verian is a strong fit with Basware’s strategy, cloud-focused business and culture. This acquisition will strengthen Basware’s sales momentum in the U.S., add new customers, and additional e-procurement capabilities to help accelerate growth.
"Verian created a strong position in the industry with its 100 percent cloud-based purchase-to-pay solutions, as evidenced by its annual subscription revenue growth exceeding 40 percent. Jointly we will continue to enable our customers to buy and pay for goods and services in a simplified, paperless, and cost-efficient way."
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