Under the agreement, Monterro 1 will acquire a minority stake in, and invest capital for the expansion of, Palette Software & Consulting, while Palette’s founders will remain the principal owners and continue to actively manage the company.
Palette’s core product suite, PaletteArena, gives customers visibility and control of the P2P process by linking purchases, invoices and contracts. In February 2015, the company released PaletteArena 6.3 seeing the addition of several new features to enable enhanced integration with corporate and personal payment card expenditure, and enhance purchase order management.
Palette is a provider of solutions for enterprise purchase-to-pay and automated processing of supplier invoices. The company’s accounts payable product suite, PaletteArena, provides an automated approach to supplier invoice matching and straight-through-processing. Palette was founded in Sweden in 1993, and has sales offices across Europe and in the US, with 1700 customers in 50 countries.
In June 2015, Microsoft Dynamics NAV-solution supplier Mavisystems and Palette Finland signed a partner agreement.
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