Esker acquires CalvaEDI

Thursday 8 January 2015 09:12 CET | News

Esker, a US document process automation company, has acquired CalvaEDI, a French company specializing in computer-based communications in the EDI Transport and Logistics sector.

The acquisition of 100% of CalvaEDI’s shares will be financed in part by Esker cash, the use (up to 20%) of shares acquired on the market and by bank support, including BPI France, the French government-owned investment bank. The selling shareholders have committed to a two-year lockup plan for the Esker shares they will receive as compensation for the deal.

Given its position in the EDI market, CalvaEDI will continue to operate under its own name as a separate entity from Esker. New services will gradually be jointly developed in order to enable CalvaEDI’s growth and to provide Esker customers, particularly those who have automated the order-to-cash cycle, the benefit of EDI technology integration. The transaction is subject to usual audit procedures and should be finalized by April 2015.

CalvaEDI is a French company specializing in computer-based communications in the EDI Transport and Logistics sector. Since its creation in 1997, the company has pursued a strategy of developing gateways between the different computer systems of its customers and those of their partners in order to enable the transmission, security and traceability of data. CalvaEDI has over 300 customers and achieved EUR 2.2 million in sales revenue in 2013.

Esker provides document process automation services targeted at a variety of business processes from accounts payable and accounts receivable to sales order processing and procurement. Esker operates in North America, Europe and Asia Pacific.

In recent news, Esker has launched an enhanced service which will help companies comply with mandates for e-invoicing when working with public authorities throughout Europe.

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Keywords: Esker, CalvaEDI, French, EDI, BPI France, Transport and Logistics, Order-to-Cash, document, process, automation
Categories: Banking & Fintech
Countries: World
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