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E-invoicing, SCF & E-procurement

Certify, Chrome River to merge their invoice management technologies

Thursday 7 March 2019 | 02:16 PM CET

US-based Certify and Chrome River Technologies have announced they will merge in a deal that’s valued at over USD 1 billion.

Chrome River initially will operate separately, but will collaborate on investing in technology like artificial intelligence, machine learning, analytics and reporting, a joint announcement said. The merger also adds Chrome River to Certify’s other brands, like Nexonia, Tallie, Abacus and Captio.
Merger Analysis

In the Certify-Chrome River deal, K1 Investment Management will hold a majority stake in the combined organization, and existing shareholders, including the companies’ founders and Bain Capital Ventures, will keep a minority interest, the announcement said.

Certify is a cloud-based travel and expense management solution for organizations of all sizes that offers automated expense reporting. With prescheduled, auto-generated expense report creation and mobile capabilities, Certify eliminates the need for paper receipts and spreadsheets, and provides insight into travel and expense spend with a full suite of on-demand reporting and analytics.

More: Link
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