The transaction will allow Sidetrade to strengthen its market offering and position in North America, as well as respond to the booming B2B e-commerce market.
The acquisition will cost €3m and will be made in cash. The money will be paid in part on the signing of the agreement, with the rest scheduled for the end of 2023 – subject to certain customer renewals.
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The transaction is part of the Group’s Fusion 100 strategic plan targeting Annual Recurring Revenue (“ARR”) of $100m by end-2025.
Olivier Novasque, CEO of Sidetrade, commented: “By acquiring CreditPoint Software, Sidetrade has undoubtedly enhanced its solution for B2B credit risk management, and we are in pole position to take advantage of the boom in B2B e-commerce.
“After placing artificial intelligence at the core of our Collection, Disputes and CashApps solutions, we are now shaping the future of B2B credit risk management together with CreditPoint Software’s teams as we build on the analysis from our Data Lake of over $4.6 billion worth of B2B transactions”, Novasque added. “Our technological advantage in AI over our competitors will only continue to assert itself and become even more evident. Working in tandem, the talents and technologies of both groups will enable Sidetrade to cement its global leadership position in Order-to-Cash.”
Founded in 2006 in Tulsa, Oklahoma, CreditPoint Software is an American software company specialising in comprehensive B2B credit risk management solutions.
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