E-invoicing provider Cortex completes plan of arrangement with TransZap

Monday 18 February 2019 10:49 CET | News

US-based e-invoicing provider Cortex and TransZap P2P Canada have closed their plan of arrangement under section 193 of the Business Corporations Act.

TransZap has acquired all of the issued and outstanding common shares of Cortex, including shares issued to holders of options to purchase shares and deferred share units of Cortex. The aggregate consideration was valued at USD 42 million.

Cortex is a digital transformation solutions provider focused on B2B document exchange, AP, and AR invoice automation. Cortex specialises in the development and delivery of integrated electronic document intake and management solutions using connection methods that leverage existing technologies and processes.

Drillinginfo, owner of subsidiary TransZap, delivers business insights to the energy, power, and commodities markets. Drillinginfo’s SaaS platform delivers actionable intelligence over mobile, web, and desktop to analyse and reduce risk, conduct benchmarking, and uncover market insights.

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Keywords: Cortex, Transzap, plan of arrangement, merger and acquisitions, US, Canada, North America, e-invoicing, digital transformation, AR automation, AP automation
Countries: World