Esker, Inc. Acquires American Start-Up TermSync
January 28 2015 - 8:00AM
Business Wire
TermSync’s collaborative platform reinforces
Esker’s Accounts Receivable solution for U.S. customers and paves
the road for future Esker solutions
Esker, a worldwide leader in document process automation
solutions and pioneer in cloud computing, today announces the
acquisition of TermSync™, a
cloud-based accounts receivable (AR) platform.
Based in Madison, Wisconsin, which is also home to Esker’s U.S.
headquarters, TermSync develops and markets an innovative,
collaborative portal enabling businesses to modernize their AR
processes. Fully developed on cloud-based technology, TermSync
optimizes invoice management by reducing costs, accelerating
payments and reducing DSO (Days Sales Outstanding). Today, TermSync
connects thousands of companies on its network, including the U.S.
National Association of Credit Management (NACM), which has
selected the solution as a preferred partner.
Following the success of an intense development and market
validation phase, but with limited resources, TermSync was looking
for a strategic partner to support its commercial development
throughout the U.S. At the same time, Esker sought to strengthen
the capabilities of its existing AR solution in order to meet the
expanding needs of U.S. companies. Combined, Esker’s Sales and
Marketing capabilities and TermSync’s platform will generate growth
for their respective offerings.
Beyond the operational aspect, Esker will build on TermSync’s
experience and technologies to enhance the collaborative aspect of
all its solutions.
Given Esker’s strong growth ambitions for TermSync’s platform,
the acquisition price includes a significant variable component
(33%). This will be paid to the selling shareholders based on the
performance achieved at the end of a two-year period. Furthermore,
20% of the estimated value of the transaction will be paid with
shares currently held by Esker.
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 46.2 million euros in sales revenue in 2014, 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