STAMFORD, Conn., March 31, 2016 (GLOBE NEWSWIRE) -- Basware, the leading provider of e-invoicing and purchase-to-pay solutions, today announced that it has acquired Verian, a leading cloud-based solution provider in the fast-growing purchase-to-pay market. The acquisition further strengthens Basware's market position in the US and supports Basware's strategy to grow its cloud-based business revenues in key markets. Verian brings additional cloud-based customers and added e-procurement capabilities to Basware's portfolio. The acquisition will also enable Verian customers to leverage the power of the Basware Commerce Network and its market-leading financing services offering.
Verian, headquartered in the Charlotte, North Carolina metro area, is a leading provider of cloud-based purchase-to-pay solutions. Verian was founded in 1998.
"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% cloud-based purchase-to-pay solutions, as evidenced by its annual subscription revenue growth exceeding 40%. Jointly we will continue to enable our customers to buy and pay for goods and services in a simplified, paperless, and cost-efficient way", says Esa Tihilä, CEO, Basware Corporation.
"We are tremendously excited about the combined value Basware and Verian will bring to our customers and the overall market. The Basware and Verian solutions complement each other to offer customers the most comprehensive purchase-to-pay, commerce network and financing services globally available today", says Tehseen Dahya, CEO, Verian Technologies.
Verian helps companies buy and pay for goods and services in a simplified, paperless, and cost-efficient way. Companies can see everything that's being ordered, purchased, and received, automate approval and payment processes, enforce controls and save money. Verian has been in the P2P market longer than any other independent provider - nearly 20 years. We get P2P. That's why we have the broadest and deepest solutions available today - to exceed business needs, get the most spend under management, and help organizations pursue what matters most.
Basware is the global leader in providing networked purchase-to-pay solutions, e-invoicing and innovative financing services. Basware's commerce and financing network connects businesses in more than 100 countries and territories around the globe. As the largest open business network in the world, Basware provides scale and reach for organizations of all sizes, enabling them to grow their business and unlock value across their operations by simplifying and streamlining financial processes. Small and large companies around the world achieve significant cost savings, more flexible payment terms, greater efficiencies and closer relationships with their suppliers. The company's North American business, Basware, Inc., is headquartered in Stamford, Conn. Find out more at www.basware.com.
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