E-invoicing and purchase-to-pay solution provider Basware has acquired Verian, an American cloud-based purchase-to-pay solutions provider. The acquisition helps Basware reach its goal of growing cloud-based revenues in key markets.
Founded in 1998, Verian brings cloud-based customers and e-procurement to Basware while Basware provides Verian customers access to the Basware Commerce Network.
Basware CEO Esa Tihilä says the purchase makes sense for Basware.
“Verian is a strong fit with Basware’s strategy, cloud-focused business and culture. This acquisition will strengthen Basware’s sales momentum in the US, 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.”