Open Banking infrastructure company Axway has made an overseas acquisition. The Arizona-based fintech acquired AdValvas, a Belgium-based e-invoicing processes specialist. The purchase brings new invoicing and compliance capabilities to the US-based fintech. These new capabilities include embedded support for Peppol and French VAT reform – as well as other B2G (business-to-government) and B2B e-invoicing mandates around the world. Neither Axway nor AdValvas disclosed the amount of the transaction.
The acquisition comes at a time of greater regulatory interest in e-invoicing. Regulators are debating new requirements for B2B invoicing in France. In the EU overall, B2G e-invoicing is currently mandatory for all public procurements. The trend toward Continuous Transaction Control provides additional impetus for firms to embrace e-invoicing.
Officials from Axway said that AdValvas has been at the forefront of Peppol and e-invoicing for the past decade, helping steer the direction of invoice compliance around the globe. They are happy to welcome AdValvas and look forward to leveraging their deep expertise to help customers navigate the delicate compliance waters ahead.
Going forward, AdValvas will operate as an Axway subsidiary. The company’s products and services will be integrated into Axway’s B2B integration platform.
Axway gives heritage IT infrastructure new life, helping more than 11,000 customers worldwide build on what they already have to digitally transform, add new business capabilities, and drive growth.
With its Amplify API Management Platform —an independent platform for managing and governing APIs across teams, the hybrid cloud, and third-party solutions — the company helps companies move forward faster, reach new markets, and create brilliant digital experiences.
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