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Palette Software acquires Business Solutions from KIBI

Wednesday 22 June 2016 13:58 CET | News

The Swedish software company Palette strengthens its position in the Nordic market through the acquisition of the business area Business Solutions from KIBI. 

Palette is a leading provider of solutions that cover the entire process from purchase to payment, P2P. Through the acquisition of KIBI Business Solutions, Palette strengthens its position in the Nordic market, a market that it has invested heavily in during the past few years by establishments in Denmark in 2012, Finland in 2014 and Norway in 2015.

2015 was the strongest year in Palettes history and the company had an annual growth of about 25 %. Palette is growing strongly outside of Sweden and before the acquisition of KIBI Business Solutions it had 110 employees spread across six countries.

KIBI Business Solutions, part of KIBI Group, has over 2,500 customers. Many are small and medium-sized business and service bureaus, two segments that complement Palettes existing customer base largely consisting of somewhat larger companies. KIBI Business Solutions has 22 employees spread across offices in Stockholm, Oslo and Copenhagen. 


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Keywords: Palette Software, Business Solutions, KIBI, acquisition, purchase to payment
Categories: Banking & Fintech
Companies:
Countries: World
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Banking & Fintech






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