Sidetrade announces definitive agreement to acquire Amalto
12 April 2021 - 7:57AM
Sidetrade announces definitive agreement to acquire Amalto
Sidetrade acquires 100% of Amalto for $16m
Sidetrade’s Fusion100 growth plan picks up
speed
Sidetrade (Euronext Growth:
ALBFR.PA), - software vendor of an AI‑powered platform dedicated to
Order-to-Cash (O2C) cycle management – has signed a definitive
agreement to acquire Amalto, one of the main players in the
dematerialization of B2B financial transactions in North America,
for $16m. With this deal, Sidetrade enriches its O2C offering, and
accelerates its penetration of the North American
market.
Sidetrade acquires 100% of Amalto for $16m
Sidetrade has acquired 100% of Amalto for a firm
price of $16m in cash upon signature. In addition managers may
receive an earn-out payment at the end of 2024, depending on
revenue growth at that time. Sidetrade will finance this
transaction via bank debt, to retain cash for possible further
acquisitions. At the time of the transaction, Sidetrade's cash
position was €24m ($28.6m), including treasury shares.
Sidetrade’s Fusion100 growth plan picks up
speed
This acquisition is a major milestone in
Sidetrade’s Fusion100 strategic plan, which aims to reach $100m in
revenue by 2025. With Amalto now on board, cumulative revenue could
approach $43m in 2021, including nearly $7m in North America.
Amalto’s excellence in electronic invoicing-
particularly in North America- fits in perfectly with Sidetrade’s
global comprehensive O2C offering. The acquisition strengthens
Sidetrade’s footprint in a rapidly expanding global market.
Furthermore, Sidetrade’s and Amalto’s joint expertise will help
their customers comply with changing regulations, as e-invoicing is
becoming mandatory in many EU countries, including France.
The new organization detailed in the press
release of 6 April 2021 is being implemented to integrate Amalto's
teams and product offerings into the Sidetrade family, and
strengthen Sidetrade's presence in the North American market.
Sidetrade will make Amalto's Houston offices its US
headquarters.
As a result of this operation, Sidetrade could
be generating nearly 20% of its revenues in North America, as early
as this year.
~
Next financial release2020
Annual Results: 20 April 2021 (after stock market closes)
Investor relationsChristelle
Dhrif, CCO+33 6 10 46 72 00 /cdhrif@sidetrade.com
UK media relationsAmanda Bun,
PR Account Director+44 7595 768 277/amanda@luminouspr.com
About Sidetrade
(www.ww.sidetrade.com)Sidetrade (Euronext Growth: ALBFR.PA)
is a fast-growing international SaaS company unlocking customer
value.Sidetrade’s next-generation AI, nicknamed Aimie, analyzes
huge amounts of B2B customer payment behavior data to intelligently
automate the order-to-cash process. Based on predictive analytics,
Aimie delivers actionable recommendations in real time to enhance
retention, upsell/cross-sell, and cash collection. Aimie is a real
game-changer in augmented intelligence- a system whereby
individuals and machines work together faster and smarter, in
complementary ways.Sidetrade has a global reach, with 250 talented
employees based in Paris, London, Birmingham, Dublin, Amsterdam,
Houston, and Calgary serving clients in 80 countries. Over 2,700
businesses from large multinationals to mid-size enterprises, in a
range of industries, count on Sidetrade technology to outperform
the competition.For further information, visit us at
www.sidetrade.com and follow us on Twitter @Sidetrade.
About Amalto
(www.ww.amalto.com)Founded in 2005, Amalto
Technologies provides innovative enterprise-level solutions
enabling B2B integration and electronic document exchange. Amalto
delivers services to various markets including Business Services,
Chemicals, Environmental, Manufacturing, Oil & Gas, and
Transportation. Present in the U.S. (Houston), Europe (Paris) and
Canada (Calgary), the company supports Fortune 100 companies as
well as Small-to-Medium Enterprises. With millions of transactions
and billions of dollars managed each year on behalf of its North
American and European customers, Amalto delivers secured and
flawless transactions between buyers, vendors, logistics providers,
banks and many other types of Trading Partners.
In the event of any discrepancy between the
French and English versions of this press release, only the French
version is to be taken into account.
- Sidetrade-PR-Amalto_acquisition_US__12_april_2021
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