Billtrust Acquires Order2Cash, a European B2B Financial Software Provider
February 15 2022 - 6:00AM
Business Wire
Acquisition Further Expands Global Reach for AR
Automation and B2B Integrated Payments Leader
Billtrust (NASDAQ: BTRS), a B2B accounts receivable (AR)
automation and integrated payments leader, announced today it has
acquired Netherlands-based Order2Cash, a leading B2B order-to-cash
platform provider. The acquisition follows the October 2021
purchase of iController, broadening the company’s European
footprint, global presence and ability to expand its innovative
Business Payments Network (BPN).
For over 20 years, each company has pursued a similar vision to
streamline and accelerate B2B payments for its customers. Now,
those customers will gain access to a broader platform of SaaS
modules and a global B2B payments network at a time when it is
critical to digitally transform accounts receivable to maximize
cash flow. Order2Cash’s enterprise customer base, global
interoperability capabilities and established connections to over
70 B2B and B2G e-invoicing networks will broaden BPN’s reach to
deliver fully compliant and secure e-invoicing across multiple
markets. As an open network supporting buyers and suppliers,
allowing both accounts payable and accounts receivable platforms to
exchange invoices, payments and remittance data, BPN delivers
invoices to over 170 leading accounts payable (AP) portals.
“We are thrilled to welcome Frank Hoekstra, Marco Eeman and the
Order2Cash team into the Billtrust family,” said Steve Pinado,
Billtrust President. “This strategic acquisition aligns perfectly
with our growth plan of expanding globally with companies that
offer complementary expertise, shared values and local market
presence. Our EU team now exceeds 100 members, serving more than
700 customers, and is accelerating our global expansion.”
“On behalf of our Order2Cash team, we are pleased and excited to
combine with Billtrust, a true industry leader and innovator,” said
Frank Hoekstra, CEO, Order2Cash. “Since 2000, we have worked to
make the digital transformation of AR fast and simple while
streamlining B2B invoicing and payments. Billtrust brings us an
exciting opportunity to leverage our joint commercial and industry
experience and offer all customers greater access to a global
marketplace. Our coming together ensures that we can continue to
provide the speed and quality of service needed to operate in
today’s digital landscape.”
The Order2Cash team will continue to operate from Netherlands
locations in Amsterdam and Joure, as well as offices in Krakow,
Poland and New York City, USA.
About Billtrust Billtrust is a leading provider of
cloud-based software and integrated payment processing solutions to
simplify and automate B2B commerce. Accounts receivable is broken
and relies on conventional processes that are outdated,
inefficient, manual and largely paper based. Billtrust is at the
forefront of the digital transformation of AR, providing
mission-critical solutions that span credit decisioning and
monitoring, online ordering, invoice delivery, payments and
remittance capture, invoicing, cash application and collections.
For more information, visit Billtrust.com.
Forward-Looking Statements This press release includes
certain statements that are not historical facts but are
forward-looking statements for purposes of the safe harbor
provisions under the United States Private Securities Litigation
Reform Act of 1995. These forward-looking statements include, but
are not limited to, statements regarding the benefits and synergies
that may be realized by Billtrust (“the Company”) and Order2Cash as
a result of the acquisition. These forward-looking statements are
not intended to serve as, and must not be relied on by any investor
as, a guarantee, an assurance, a prediction or a definitive
statement of fact or probability. Actual events and circumstances
are difficult or impossible to predict and will differ from
assumptions. Many actual events and circumstances are beyond the
control of the Company. These forward looking statements are
subject to a number of risks and uncertainties, including those
factors discussed in the Company’s filings with the SEC, including
in the “Risk Factors” and “Management’s Discussion and Analysis of
Financial Condition and Results of Operations” sections of the
Company’s most recently filed periodic reports on Form 10-K and
Form 10-Q and subsequent filings. If the risks materialize or
assumptions prove incorrect, actual results could differ materially
from the results implied by these forward-looking statements. These
forward-looking statements are subject to a number of risks and
uncertainties, including Billtrust’s and Order2Cash’s ability to
realize the anticipated benefits and synergies of the acquisition.
There may be additional risks the Company presently does not know
or that they currently believe are immaterial that could also cause
actual results to differ from those contained in the
forward-looking statements. In addition, forward-looking statements
reflect the Company’s expectations, plans or forecasts of future
events and views as of the date of this press release. The Company
anticipates that subsequent events and developments will cause its
assessments to change. However, while the Company may elect to
update these forward-looking statements at some point in the
future, the Company specifically disclaims any obligation to do so.
These forward-looking statements should not be relied upon as
representing the Company’s assessments as of any date subsequent to
the date of this press release. Accordingly, undue reliance should
not be placed upon the forward-looking statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220215005252/en/
Investor John T. Williams IR@billtrust.com
Media Paul Accardo PR@billtrust.com
BTRS (NASDAQ:BTRS)
Historical Stock Chart
From Jun 2024 to Jul 2024
BTRS (NASDAQ:BTRS)
Historical Stock Chart
From Jul 2023 to Jul 2024