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Category: News

Enmark Announces Key Leadership Roles; Sets Path for Next Phase of Growth & Innovation

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Enmark Announces Key Leadership Roles; Sets Path for Next Phase of Growth & Innovation

Accel-KKR | Dec 13, 2023

Ben Lion Appointed President; Donna Myers Elected as Executive Chairman of the Board

Ann Arbor, MI – December 13, 2023 — Enmark Systems, Inc., a provider of ERP software for metal service centers and the developer of award-winning ENITEO, an ERP software platform for the metal service center industry, today announced the appointment of Ben Lion as President and Donna Myers as Executive Chairman effective November 15, 2023.

Myers has been serving as Interim CEO for Enmark since May 2023.  In her new role as Executive Chairman, Myers will continue to work closely with Enmark’s executive leadership team to deliver innovative software, creating frictionless metal service centers that operate efficiently and make more money.  Prior to Enmark, Myers was CEO of Salsa Labs, where her leadership brought rapid revenue growth to the provider of supporter engagement software, supplying thousands of nonprofits around the world.

Lion has served as Chief Revenue Officer for Enmark since 2021, delivering year-over-year double digit growth in new bookings and deepening relationships with Enmark customers. Prior to Enmark, Lion worked with Myers at Salsa Labs, leading its sales, marketing, and customer success teams.  Lion spearheaded the creation of Enmark’s Customer Advisory Board to gain valuable feedback in order to maximize value for Enmark customers, optimize the overall customer experience and help customers drive growth across their metal service centers. In May 2022, ENITEO was voted the top ERP software for metal service centers by Metal Center News. Trusted by the metal service center industry for over 18 years, ENITEO delivers the ultimate speed, accuracy & efficiency by connecting the top floor to the shop floor with real-time inventory control, sales, accounting and shipping modules. The breadth of features allows service centers to quote and ship more material while reducing errors.

“On behalf of the board, I want to congratulate Ben on his promotion and look forward to working with him to advance operational excellence at Enmark and driving transformational value for our customers,” said Donna Myers, Enmark Executive Chairman.

“I’m excited about the future of Enmark and the impact we make enhancing operations in the metal service center industry,” said Lion.  “We have a great team at Enmark and I am thrilled about the opportunities that lie ahead for us.”

About Enmark Systems, Inc.
Founded in 1983, Enmark’s philosophy has never changed – powering the connected service center industry with the latest technology to enhance operations from the shop floor to the top floor. The company’s flagship product, ENITEO, was launched in late 2004 and has since become the most widely adopted ERP, pricing and inventory software platform for the metal service center industry. For more, visit enmark.com.

Ntracts Secures Significant Investment from Accel-KKR

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Ntracts Secures Significant Investment from Accel-KKR

Accel-KKR | Dec 13, 2023

Partnership to Fuel Product and Market Growth for Healthcare Contract Lifecycle Management Technology Leader

Menlo Park, CA & Chattanooga, TN – DEC 13, 2023 – Ntracts, a leading contract lifecycle management solution for healthcare organizations, today announced a significant capital investment from Accel-KKR, a global technology-focused private equity firm. The investment will help Ntracts accelerate its go-to-market strategies and continue to seek to lead the market with product innovations.

Ntracts’ CEO, David Paschall, said, “We are thrilled to have Accel-KKR as our partner as we enter a new phase of growth and innovation. Their extensive background in healthcare IT investing and operating resources will be invaluable as we work to bring more innovation around our core offering and to further strengthen our client partnerships.”

The average-sized community hospital spends $7.6 million annually on administrative activities related to regulatory compliance and even more in fines if they experience a violation. With complex and often changing government regulations, healthcare organizations must take action to ensure regulatory and organizational compliance. Additionally, they continue to face the need to improve efficiencies and cut operational expenses as healthcare organizations lose an estimated 9% on average of annual revenue due to contract mismanagement.

Ntracts’ Contract Lifecycle Management solution supports clients’ full visibility into their contracts, increases efficiencies with workflow automation, provides advanced contract data reporting, and mitigates compliance risk. Furthermore, Ntracts’ implementation roadmap emphasizes partnership and collaboration with each client, and Ntracts takes on the full responsibility of each implementation.

The investment is part of Accel-KKR’s continued commitment to investing in innovative software companies that are driving digital transformation throughout the healthcare industry. Ntracts’ contract management software is designed to help healthcare organizations streamline their contract management processes, minimize regulatory exposure, and identify cost savings.

“We are excited to partner with Ntracts and support their growth as they continue to innovate and drive value for their customers,” said Phil Cunningham, Managing Director at Accel-KKR. “Ntracts’ contract management software is a powerful tool that can help healthcare organizations of all sizes manage their contracts more efficiently and effectively.”

Brentwood Capital Advisors acted as exclusive financial advisor to Ntracts.

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About Ntracts

Ntracts is a leading contract lifecycle management solution for healthcare organizations across the country. Driven by the expertise of dedicated contract compliance professionals, and founded by a leading healthcare law firm, Hall Render, Ntracts has provided best-in-class, healthcare-focused contract lifecycle management solutions for over 30 years. Visit ntracts.com to learn more.

About Accel-KKR

Accel-KKR is a technology-focused investment firm with $19 billion in cumulative capital commitments. The firm focuses on software and tech-enabled businesses, well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions, including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across various transaction types, including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR’s headquarters is in Menlo Park, with offices in Atlanta, London, and Mexico City. Visit accel-kkr.com to learn more.

Reapit and PayProp Join Forces, Backed by Accel-KKR Investment

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Reapit and PayProp Join Forces, Backed by Accel-KKR Investment

Accel-KKR | Dec 05, 2023

London, UK – December 05, 2023 – Reapit and PayProp, two leading property technology solution providers, today announced that they are joining forces to deliver greater value and innovation to estate and letting agents worldwide. The combination is backed by a substantial investment from Accel-KKR, a leading technology-focused private equity firm. The move offers customers of both companies the opportunity to have a single provider that delivers capabilities across sales, letting, property management, client account management, and secure, automated disbursement of payments to the appropriate stakeholders.

Mark Armstrong, CEO of Reapit, commented: “Our two companies are both highly oriented around service and customer success. Our combined path is clear: to lead and drive digital transformation of the property sector, which is a huge asset class.”

“We could not be more excited about the technology, customers and employees that PayProp brings to the combined entity,” Armstrong added. “PayProp has a loyal customer base that benefits from efficient and secure payment, reconciliation and settlement. Many PayProp customers, I am sure, will be keen to discover the end-to-end functionality and support that Reapit offers.”

Johannes van Eeden, CEO, PayProp put the emphasis on growth opportunities. “Both of our companies have an excellent reputation for eliminating back-office inefficiencies and lowering administrative costs. Together, we will provide a premium end-to-end service with the goal of enabling our customers to do business more efficiently, remain compliant with the latest regulations, and grow profitably.”

Reapit is an established brand in the United Kingdom and Ireland, Denmark, Australia and New Zealand, and the United Arab Emirates. PayProp serves a large group of letting agents and rental property managers across the United Kingdom, South Africa, Canada & the United States.

“We look forward to working with Mark, Johannes, and their teams to help create a true end-to-end PropTech platform that enables our customers to grow, become more efficient and fulfil their mission to find homes for their customers,” said Park Durrett, Managing Director at Accel-KKR and a board member of both Reapit and PayProp.

“Reapit and PayProp coming together creates a major force in the PropTech sector and provides a springboard for further growth of the combined entity, which already has a significant footprint in four continents with considerably more than a million properties
under management. The combination of Reapit’s expertise, resources and support
in real estate management with PayProp’s expertise in payment and reconciliation will undoubtedly bring significant value to the global estate agency and letting industry.”

About Reapit

Reapit is the original, end-to-end business technology provider for estate agencies of all sizes. We’ve been helping sales and lettings agents to build relationships and grow their businesses for more than 25 years. Our technology connects property professionals in Europe, the Middle East, Australia, and New Zealand with buyers, sellers, tenants and landlords to power the relationships that change lives.

In the United Kingdom and Ireland, Reapit’s market-leading technology product suite provides estate and lettings agents with powerful tools covering lead generation, sales, lettings, property management, block management, client accounts, key management and analytics, underpinned by a robust, security infrastructure.

Worldwide, Reapit technology is used by over 78,000 agents in more than 15,000 branches, with over a million properties under management; enabling them to run their businesses, identify opportunities for growth, manage their properties, collect rent, communicate with their clients, and deliver an outstanding customer experience, every time.

ESTELA Expands Its Position as the Leader of Digital Compliance in Ibero-America with Two New Acquisitions

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ESTELA Expands Its Position as the Leader of Digital Compliance in Ibero-America with Two New Acquisitions

Accel-KKR | Nov 22, 2023

Mexico City, MX, Santiago, Chile and Lima, Peru — November 22, 2023 —ESTELA, a leader in digital compliance technology platform in Latin America, today announced the acquisition of Chilean software company DBNet and the Peruvian software company, DigiFlow. ESTELA is backed by Accel-KKR, a global private equity firm with USD19 billion in cumulative capital commitments and solely focused on software companies and tech-enabled services.

DBNet and DigiFlow offer leading software solutions in electronic invoicing and fiscal compliance to thousands of enterprise customers in Chile and Peru. Together, they serve diverse sectors including distribution, logistics, public services, and business services.

“We help thousands of mid-market and enterprise customers do and grow business with ease, even as digital, tax and fiscal compliance become mandated in more countries across Latin America,” said Patricia Santoni, CEO of ESTELA. “The addition of DBNet and DigiFlow expands our reach into the Southern Cone and brings us even closer to customers in this part of the continent. Our growing footprint means customers can continue to count on us as they expand their businesses into Chile, Peru and beyond.”

ESTELA, born from the combination of five trailblazing electronic invoicing and EDI companies in Latin America, emerges as a leading player for digital compliance across Ibero-America. With a dedicated team of more than 700 professionals spread across seven countries, ESTELA plays a pivotal role in fortifying economies through compliance and transparency by championing a unified digital standard across Ibero-America. DBNET and DigiFlow extends ESTELA’s market leading solutions to Chile and Peru.

ESTELA delivers on its mission of ensuring digital compliance by upholding its customer values of speed, reliability, simplicity, and innovation. These attributes have made ESTELA the preferred partner for numerous industry leaders in Ibero-America – ESTELA handles more than 1.5 billion financial transactions annually.

John Crowell, Head of Latin America and Iberia at Accel-KKR, commented, “ESTELA has a unique opportunity to unite disparate digital and fiscal compliance technologies and solutions across Latin America into one, single, unified platform to serve leading enterprise customers doing business across the region. We are excited to support these two new acquisitions, which expands ESTELA’s geographic footprint and market expertise further across Latin America.”

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About DBNet
DBNet, as a leader in B2B electronic invoicing, represents technological progress and adaptability. With a team of 150 employees spread across three countries and a corporate client base of 1,500+, its trajectory has been a testament to excellence. For more information, visit www.DBNetcorp.com.

About DigiFlow
DigiFlow has established itself as a pioneer of digital compliance in Peru, serving more than 700 corporate clients and reinforcing its leadership position in this field. Discover more at www.DigiFlow.pe.

About ESTELA
ESTELA has emerged as the definitive solution to meet the escalating need for a digital compliance leader in Ibero-America. This dynamic platform is composed of the leaders and pioneers in electronic invoicing, operational, tax, and logistics compliance across Latin America. ESTELA serves as the ultimate “one-stop shop” for large local and regional corporations in Ibero-America. More information at www.estela.com.

Teamcore Expands Presence in Mexico with Acquisition of Pabis Retail

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Teamcore Expands Presence in Mexico with Acquisition of Pabis Retail

Accel-KKR | Nov 22, 2023

Acquisition Improves Teamcore’s Ability to Serve All Tiers of CPGs, with Advanced Retail Execution Technology 

Mexico City, Mexico – November 15, 2023 — Teamcore, a retail execution technology platform, today announced the acquisition of of Pabis Retail, a business intelligence company for consumer packaged goods (CPGs) in Mexico. This transaction marks Teamcore’s second acquisition in 2023.

The acquisition expands Teamcore’s business intelligence offerings, builds on the company’s footprint in Mexico, and enables CPGs and retailers to take advantage of Teamcore’s expanded technology composed of channel visibility, sales & execution, supply, and trade promotions solutions. The combined businesses share a common goal of helping clients capture more revenue.

“We are excited to accelerate our growth in Mexico and northern Latin America region with this partnership with the Pabis team. This collaboration combines the strengths of Teamcore’s automated intelligent workflows with Pabis’ robust analytics tool that comes with over 300 retail data integrations. Together, we will serve more than 500 CPGs and retailers in the region with a unique solution that help increase revenues and reduce costs, even in the current challenging retail environment,” said Sergio Della Maggiora, CEO and co-founder of Teamcore.

Teamcore’s retail sales & execution technology enables over 350 brands, including Tier 1 CPG clients such as 3M, Loreal, Nestle, Coca-Cola and Unilever in Latin America, to transform their retail data into actionable insights. Teamcore collects thousands of in-store and online data inputs, applies proprietary machine learning to automatically raise stock and pricing issues or placement opportunities, and provides actionable recommendations in real-time to field teams, brand managers and retailers.

Pabis Retail is a retail analytics platform that provides data visualization features and sell-out information such as sales reports by individual product or store location across Mexico. Together, Teamcore and Pabis will be able to serve all tiers of CPGs and retailers with a complete suite of retail execution and analytics solutions that best fit the complexity and growth goals of the retailer or brand.

“At Pabis, our mission is to transform data analytics into actionable insights for CPGs, and automate the entire data analytics process, spanning data collection to visualization. Together with Teamcore, our vision enters a new transformative phase that promises to reshape the current retail landscape. We are confident that together, we will move the industry forward, shifting the focus from data analysis to concrete, data-driven actions that drive product revenue,” said Leslie Alonso Graham, CPO and Co-Founder of Pabis Retail.

About Teamcore:

Founded in 2015 in Santiago, Chile, Teamcore enables retailers and CPGs to improve product availability and gain BI/insights into their stock and performance. Teamcore’s algorithm generates and prioritizes customizable action plans for CPG’s field reps and supply chain teams, enabling them to better prioritize their time and target higher priority lost sale opportunities. At a global scale, lost sales represent a more than $1 trillion market opportunity and by leveraging its machine learning platform, Teamcore has proven to increase the POS growth of their customers by 3.0% to 5.0%. For more information, please visit teamcore.net.

About Pabis:

Established in 2008 in Mexico City, Pabis Retail empowers Consumer Packaged Goods (CPG) companies to extract value from retail data through streamlined, automated analytics. Pabis’s proprietary software aggregates data from over 300 retailers across LATAM, and their algorithms transform this data into actionable insights, enabling key players in the retail sector to make timely operational decisions for their products at each point of sale, every day. Pabis Retail’s 100% automated processes and analytics platform have consistently been proven to optimize user efficiency, enabling rapid, data-driven decisions that drive sales. For further details, please visit pabisretail.com

NAVTOR and Voyager Worldwide to Merge in Landmark Industry Combination

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NAVTOR and Voyager Worldwide to Merge in Landmark Industry Combination

Accel-KKR | Nov 08, 2023

Merger Will Create Global Market Leader in Maritime Technology Industry

Japanese version

Egersund, NORWAY & Singapore City, SINGAPORE – November 9, 2023 – NAVTOR, a leading e-Navigation and performance technology provider to the maritime industry, and Voyager Worldwide, a leading provider of maritime technology solutions, today announced that both companies have agreed to merge in a landmark industry combination. The combined business will deliver products and solutions to approximately 18,000 vessels globally. The transaction is expected to close by December 2023.

Both companies provide maritime technology solutions that enable shipping companies to improve safety, efficiency, compliance, operational performance, and drive business advantages from their maritime fleet. In today’s dynamic maritime market, ship owners, operators and managers seek to have smarter, safer and greener shipping operations – and best-in-class fleet operations technology is a vital contributor towards those goals.

“This is perhaps the biggest day in NAVTOR’s history, and a major development for the maritime technology industry,” said Tor Svanes, CEO and founder of NAVTOR. “Here are two different and highly complementary businesses, both of which have built trusted portfolios and relationships with ship owners, operators and managers worldwide. As one company, we will strengthen our position as a global e-Navigation and performance market leader and unlock powerful benefits for customers.”

The combined business will boast an extensive network of global offices and representatives catering to all of shipping’s key markets. NAVTOR’s current integrated digital ecosystem offers market-leading solutions spanning e-Navigation and performance monitoring and management, including the fleet management platform, NavFleet and digital chart table, NavStation featuring advanced passage planning. Voyager is recognized for its e-Navigation, vessel management, and charts and publications portfolio.

Both businesses will continue to operate business-as-usual and clients can expect the continued support on solutions and services offerings, including the delivery of its contractual obligations.  Nothing will change in the short term and clients can expect the same level of service and support as before, from NAVTOR and Voyager Worldwide respectively.  In particular, Voyager Worldwide will continue to support its clients’ digitalisation journey, including those shifting from paper to more digital solutions gradually, as well as supporting clients who still require paper products.

“Together with Tor, I see this as an incredible opportunity,” quoted Kent Lee, CEO of Voyager Worldwide. “Both companies will unite Norway and Singapore’s maritime innovation ecosystems to drive maritime innovation to new heights. This represents an enormous opportunity to go after areas where we see tremendous growth potential. NAVTOR’s current offerings will rapidly accelerate and complement the development of our next-gen platform and solutions, advancing new joint innovations within the maritime ecosystem. NAVTOR’s customers can also leverage Voyager’s extensive global presence and deep domain expertise in the maritime industry.”

This merger follows NAVTOR’s long-term vision to help customers simplify smart, sustainable, and profitable shipping. NAVTOR received majority investment from Accel-KKR in 2020, gaining access to a financial partner to support the company in its ambitious growth plans. NAVTOR acquired performance and analytics specialist Tres Solutions in 2021 and Ingenium Marine, a digital logbook pioneer, in 2022.

About Voyager Worldwide

Voyager Worldwide is a leading provider of maritime technology solutions. Over 1000 shipping companies worldwide use Voyager solutions and services to streamline processes, improve vessel safety and compliance and improve knowledge and understanding. Voyager Worldwide is currently the maritime industry’s largest distributor of paper charts. To learn more, visit voyagerww.com.

About NAVTOR

NAVTOR was formed in 2011 with the vision of making life simpler, safer and smarter for navigators, while enhancing efficiency, performance and business results for shipowners and operators. Built on the cornerstones of in-depth maritime and technological understanding, the Norwegian headquartered business has developed an innovative portfolio of advanced solutions and a truly integrated digital ecosystem, uniting ship and shore teams worldwide. Visit www.navtor.com to learn more.

Accel-KKR Credit Partners Provides Growth Financing to TapClicks

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Accel-KKR Credit Partners Provides Growth Financing to TapClicks

Accel-KKR | Oct 31, 2023

SAN JOSE, CA, UNITED STATES, October 31, 2023  — Accel-KKR Credit Partners announced today that it has provided growth financing to support and accelerate TapClicks’ continuing momentum in market. Accel-KKR Credit Partners is a private credit fund managed by Accel-KKR, a leading global software-focused investment firm.

“TapClicks has been focused on the right unit economics to drive revenue growth; metrics such as Gross Retention, Net Revenue Retention, and positive EBITDA are important indicators of responsible growth,” said Babak Hedayati, founder and CEO of TapClicks. “We are proud of our team’s accomplishments with significant milestones on all these metrics, which in turn has helped us to earn the trust of an esteemed financial partner such as Accel-KKR. We continue to remain obsessed about our customers’ and our partners’ success.”

TapClicks provides a unified marketing workflow and data platform connecting nearly 10,000 disparate Adtech and Martech vendors, providing agencies, brands and media companies with consolidated analytics and reporting to run their businesses. The platform enables clients to execute and track ad orders, and to work within a unified environment for greater efficiencies, insights and cost savings.

“We are thrilled to partner with TapClicks,” said Samantha Shows, Managing Director at Accel-KKR. “TapClicks has made measured investments in its business, which have led to an impressive track record of growth and momentum without taking on significant outside capital. As a founder-owned business ourselves, Accel-KKR takes pride in supporting other founders. We are excited to see TapClicks continue to prosper.”

D.A. Davidson served as the financial and strategic advisor to TapClicks. This transaction highlights the ongoing success of D.A. Davidson’s Technology Investment Banking practice, which has completed 110+ transactions representing approximately $21 billion in value since 2020.

“Babak and team have built a great business — poised for continued value creation.” said Greg Thomas, Managing Director at D.A. Davidson. “We were pleased to find the perfect match for TapClicks with Accel-KKR Credit Partners.”

About TapClicks:
TapClicks, Inc. is the leading provider of unified marketing operations, analytics and reporting solutions for digital marketing, having delivered over 1,000,000 dashboards to over 5,000 brands and over 500 media companies and agencies worldwide. TapClicks is headquartered in Silicon Valley, has major organizations in Boston, Denver, Canada and India, and additional sales offices in New York, Europe and Latin America. For more information, visit www.tapclicks.com.

About Accel-KKR:
Accel-KKR is a technology-focused investment firm with over $19 billion in cumulative capital commitments. The firm focuses on software and tech-enabled businesses, well- positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. Accel- KKR’s headquarters is in Menlo Park, with offices in Atlanta and London. Visit www.accel-kkr.com to learn more.

About Accel-KKR Credit Partners:
Accel-KKR Credit Partners provides debt financing to leading software businesses. The fund structures non-dilutive investments for founder-owned businesses and flexible credit products for institution-owned businesses. The debt capital is used to support acquisitions, dividends, shareholder buybacks and growth investment. Accel-KKR Credit Partners has completed over 60 investments and deployed nearly $1 billion in capital.

About D.A. Davidson:
D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions, and municipalities nationwide. Founded in 1935 with corporate headquarters in Great Falls, Montana, and regional headquarters in Denver, Los Angeles, New York, Omaha and Seattle, the company has approximately 1,620 employees working from 115 offices in 30 states and Canada. D.A. Davidson Companies is comprised of D.A. Davidson & Co., which includes Wealth Management, Equity Capital Markets, and Fixed Income Capital Markets; Davidson Investment Advisors; and D.A. Davidson Trust Company. For more information, visit www.dadavidson.com.

Basware Completes Acquisition of Glantus to Expand AI-driven Overpayment and Fraud Detection Capabilities

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Basware Completes Acquisition of Glantus to Expand AI-driven Overpayment and Fraud Detection Capabilities

Accel-KKR | Oct 18, 2023

The acquisition brings together two forces in financial technology to revolutionize the future of invoice automation

London, United Kingdom, October 18, 2023 – Basware, the leader in making AP automation and invoice processing happen, today announced the successful completion of its acquisition of Glantus. The acquisition brings together two forces in AI-driven accounts payable (AP) automation and financial technology.

Earlier in August, Basware made an offer to purchase the entire share capital of Glantus Holdings plc, which was sanctioned by the High Court of Ireland on October 10, 2023 and completed and became effective on October 18, 2023. Following the successful acquisition, Glantus has now been delisted from the London Stock Exchange. The Glantus board and shareholders welcomed the acquisition.

Basware is renowned for its market leading e-invoicing and AP automation platform for almost 40-years, helping customers automate their invoice processing – from receipt through to approval and payment. Glantus is an AP specialist in audit recovery and fraud prevention for the North America and European markets. It uses AI technology to help businesses recoup lost funds made from duplicate payments, missed discounts, cancelled invoices, incorrect pricing calculations, refunds and VAT reclaims.

The AP Automation market is fast growing. It is projected to increase by 10.8% every year for the next five years and will be worth $5.8bn globally by 2029. North America will account for $2.1bn and Europe for $1.7bn, collectively representing more than two-thirds of the global market.

At the same time, invoice fraud and overpayment errors remain an ongoing concern. Reports show that more than 70% of businesses are subjected to invoice or payment fraud each year. Among these, AP teams continue to be the most targeted of all departments, with 58% being compromised annually through vendor impersonator scams alone. For systems used to combat fraud, automated AP processes rank first, with 72% of finance leaders stating that it would make their companies better protected. Basware’s acquisition of Glantus positions it at the forefront of this rapidly expanding landscape.

Basware and Glantus will come together to create a joint offering, delivering customers with complete coverage and a data-driven view of their invoicing and financial operations. Basware will benefit from Glantus’ expertise in audit recovery and fraud prevention software, providing demonstrable customer value for finance and accounting teams. This will add cost saving opportunities and an extra layer of security through fraud detection, overpayment error reduction and reconciliation reporting.

Jason Kurtz, CEO of Basware, commented on the acquisition:

“This acquisition marks a significant milestone for Basware and Glantus. Glantus has a very strong track record of delivering ROI and we share a mutual mission to drive value for the CFO’s team. This deal will only accelerate our ability to deliver demonstrable savings and innovation to our customers through a joint value proposition. This move signifies further investment activity to come for Basware, solidifying our position as the leader in the AP automation industry.”

Maurice Healy, Founder and CEO of Glantus, welcomed the acquisition:

“This change brings a new chapter for both companies, one marked by innovation, collaboration, and a relentless commitment to driving customer value. Basware’s growth strategy in terms of their size, focus, and market potential makes us a seamless match. We look forward to combining our expertise and products under one value proposition.”

Cendyn doubles down on the future of CRM with strategic acquisition of PUSHTech

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Cendyn doubles down on the future of CRM with strategic acquisition of PUSHTech

Accel-KKR | Oct 10, 2023

Leading hotel tech provider takes transformative step towards a next generation CRM platform that empowers hoteliers to build stronger relationships with their guests whilst driving profitable revenue

Barcelona, Spain, 10 October 2023 – Cendyn, a catalyst for digital transformation in the hospitality industry, is thrilled to announce its strategic acquisition of PUSHTech, a pioneering force in hotel Customer Relationship Management (CRM) services and marketing automation technology. This milestone solidifies Cendyn’s commitment to investing in the future of CRM by doubling down investment in innovation, customer-centric solutions, and the empowerment of hoteliers to optimize revenue streams through advanced CRM strategies.

PUSHTech is a cloud-based Customer Data Platform (CDP) and CRM platform that offers an integrated solution for the hospitality industry, excelling at marketing automation across channels, guest journey automation, and sales CRM. Built on a modern tech stack, the platform allows you to unify, segment, and take control of your databases to increase direct bookings, improve guest loyalty, and automate the guest journey using email, SMS, WhatsApp, social media and more.

In an era where cultivating guest loyalty presents an ever-increasing challenge, the acquisition of PUSHTech reinforces Cendyn’s dedication to growth and advancement in the CRM landscape. This strategic move exemplifies Cendyn’s commitment to equipping hoteliers with the tools to cultivate enduring relationships with their guests, ultimately driving loyalty and, in turn, profitable revenue streams.

“By seamlessly integrating PUSHTech’s next-generation technology into Cendyn’s portfolio, we are poised to elevate the industry’s standard for hoteliers seeking to amplify their sales and marketing CRM capabilities,” said Jack Blaha, CEO at Cendyn. “Our customers are centered around their guests, and our mission is to empower them to refine the guest experience through sophisticated technology and services. This acquisition doubles down on that mission, and we’re thrilled to explore the boundless potential of PUSHTech to bring it to fruition.”

“We are incredibly excited about joining forces with Cendyn,” said Carlos Moncho, CEO at PUSHTech. “The combination of Cendyn’s CRM heritage and our technology advancements put us in strong stead to drive CRM innovation for our industry. With a combined focus on driving loyalty and profitable revenue for our customers, we’re excited about the opportunity this acquisition offers to our industry.”

The acquisition represents a landmark moment in Cendyn’s journey, marking a transformative step for the industry as Cendyn looks to provide a next generation CRM platform for the industry. Through this acquisition, Cendyn reaffirms its commitment to innovation and its mission to empower hoteliers, revolutionizing the way they connect with guests, foster loyalty, and drive profitability.

About Cendyn

Cendyn is a catalyst for digital transformation in the hospitality industry. We help hotels around the globe drive profitability and guest loyalty through an integrated technology platform that aligns revenue, eCommerce, distribution, marketing and sales teams with centralized data, applications, and analytics, so they can capture more demand and accelerate growth. With offices located across the globe, in the United States, United Kingdom, Paris, Singapore, and India, Cendyn serves tens of thousands of customers across 143 countries. To find out more, visit www.cendyn.com.

ESG Expands Data Analytics Offering with Acquisition of Phidex

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ESG Expands Data Analytics Offering with Acquisition of Phidex

Accel-KKR | Oct 04, 2023

Oct 4, 2023 — ESG, a global leader in energy SaaS Solutions, today announced the strategic acquisition of Phidex, an innovative provider of pricing, settlement and revenue assurance software and energy consultancy services.

ESG provides the complete software platform for energy providers, enabling critical solutions in market, customer, renewables and asset infrastructure data management in the United Kingdom and North America.

The company serves over 300 blue chip energy players and over 40 million end users worldwide. ESG combines a SaaS architecture, flexible integration and constant innovation with decades of energy sector experience to provide the most adopted software platform in energy retail markets globally. Phidex provides best-of-breed data and pricing services.

“ESG and Phidex are both energy software and data specialists, with highly complementary service offerings and a shared vision of helping energy companies thrive in an ever-changing energy landscape,” says Matt Hirst, CEO of ESG. “This powerful combination positions us uniquely in the market, allowing us to continue focusing on our clients’ needs and opportunities as a result of significant programmes like Market Wide Half Hourly Settlement in the UK, interval data in the US and the energy transition movement globally.”

Energy suppliers and energy providers continue to grapple with market challenges such as competitive pressures, rising costs and regulatory requirements. In a joint market study with Utility Dive to be published at the upcoming 2023 Smarter Energy Insights Forum, findings reveal that energy providers are actively seeking solutions that will unlock the value of data in order to capitalize on future trends in the energy market. Actionable data insights are vital to address market complexities. The ESG-Phidex collaboration will offer enhanced analytics tools and software solutions that empower energy companies to make data-driven decisions.

“This acquisition aligns with our strategy to further harness the power of data for our clients and effect positive changes across the market,” adds Hirst. “As the energy market prepares for an exponential increase in energy settlement data being created, we see this as a wealth of data and insights to support profitable decision-making for energy suppliers. Our joint expertise and experience will enable our suppliers to develop solutions that can target and serve the future demands of the market.”

Richard Carnall, founder of Phidex, stated, “We’re thrilled to be able to bring our team’s market expertise and industry-leading solutions to the broader ESG client base,” he says. “We are excited to be a part of ESG and we look forward to the innovative solutions we can create together for the benefit of energy suppliers and providers globally.”

About Phidex

Phidex was founded in 2011 by professionals with extensive experience in the energy industry. We optimise energy suppliers’ critical business processes through data analytics and energy consultancy services. At the heart of our success is the company’s deep rooted knowledge of the energy industry and the design principle of utilising data at the most granular settlement period level for optimum precision. Our growing team of expert consultants and developers combine the highest standards of industry expertise with strong operational and commercial awareness to support our clients with a wide range of challenges. For more information, visit phidex.com

About ESG

ESG provides unbeatable energy sector market and meter data management to deliver an energy transition platform to optimize the customer-to-cash process for energy suppliers, utilities, pipeline and storage and retail energy providers. We automate complex, time-consuming processes with an integrated suite of tools in our platform to reduce the cost to serve and increase efficiency through data and insights to get results that matter.

With over 25 years of market experience, ESG manages over 40 million customer accounts worldwide, performing 2.5 million transactions per hour or 30 million transactions per day. ESG’s powerful platform is behind over 40% of all UK smart meters, and we serve energy retailers in every deregulated state in the US.ESG is SOC 2 certified in North America and ISO9001/27001 in the United Kingdom. We put the power of data in your hands. Visit esgglobal.com to learn more.

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