Esker Acquires CalvaEDI and Strengthens Its Position in Electronic Data Exchange (EDI)
January 07 2015 - 8:00AM
Business Wire
Esker, a worldwide leader in document process automation
solutions and pioneer in cloud computing, today announces the
acquisition of CalvaEDI, the leading French company specializing in
computer-based communications in the EDI Transport and Logistics
sector.
A Strategic Acquisition
Since its creation in 1997, CalvaEDI has been one of the leading
companies to popularize EDI technology in France. By choosing to
build its development entirely on recurring revenue related to the
use of its platform, CalvaEDI inaugurates a new economic model,
very similar to that of cloud-based computing. Similar to Esker,
CalvaEDI was able to focus on customer needs rather than technical
aspects. Over the years, the company has developed a suite of
services specialized for the transportation and logistics market,
and has since become the leader in this sector in France.
Based in Paris, CalvaEDI achieved 2.3 million euros in sales
revenue in 2014, up more than 5% over 2013. The acquisition
represents immediate growth to Esker’s financial performance, given
the strong recurring revenue, sound cost structure and high
profitability of CalvaEDI. Integration synergies will further
strengthen the financial interest of the merger.
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. To demonstrate their confidence
in the success of the CalvaEDI and Esker alliance, the selling
shareholders have committed to a two-year lockup plan for the Esker
shares they will receive as compensation for the deal.
EDI at the Core of Intercompany Communications
For over 30 years, EDI has allowed businesses to automatically
transmit business information (e.g., orders, invoices, shipping
orders, etc.), significantly reducing costs, while increasing the
reliability of the exchanges.
Until now, for reasons related to
implementation challenges, EDI has primarily benefited very large
companies operating in industries with very high volumes and
integration levels (e.g., retail, automotive, chemistry, etc.). The
advent of the Internet, combined with legislative and regulatory
changes on the exchange of invoices in the public and private
sectors in Europe, makes EDI an essential component of businesses’
document process automation strategy.
Esker believes that EDI will increasingly complement
technologies typically implemented by customers in their automation
projects. The company plans to open up the use of these
technologies to smaller businesses and to companies in other
industries, both through targeted acquisitions and agreements with
technology partners.
Light Integration
Given its strong leadership position in its 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 accelerate CalvaEDI’s growth and to offer 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.
About CalvaEDI
CalvaEDI is the leading 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
facilitate the transmission, security and traceability of data.
CalvaEDI is based in Paris, has over 300 customers and achieved 2.2
million euros in sales revenue in 2013.
About Esker
Esker is a worldwide leader in document process automation
solutions. Addressing all types of business processes, from
accounts payable and accounts receivable to order processing and
procurement, Esker cloud computing solutions enable companies to
automate the reception, processing and sending of any business
document with one platform. Esker helps over 80,000 companies
around the world to reduce the use of paper and eliminate manual
processes while improving their productivity, efficiency and
environmental impact.
With 41.1 million euros in sales revenue in 2013, Esker operates
in North America, Latin America, Europe and Asia Pacific with
global headquarters in Lyon, France, and U.S. headquarters in
Madison, Wisconsin. Esker is listed on the NYSE Alternext in Paris
(Code ISIN FR0000035818). For more information, visit
www.esker.com. Follow Esker on Twitter at twitter.com/eskerinc and
join the conversation on the Esker blog at blog.esker.com.
Esker, Inc.Corporate Contact:Gina Leranth, (608)
828-6141gina.leranth@esker.comorInvestor Relations
Contact:Emmanuel Olivier, 33 (0)4 72 83 46
46olivier@esker.fr
Citigroup Inc. Elks ON Wells Fargo & (NYSE:ESK)
Historical Stock Chart
From Aug 2024 to Sep 2024
Citigroup Inc. Elks ON Wells Fargo & (NYSE:ESK)
Historical Stock Chart
From Sep 2023 to Sep 2024