- Accel-KKR invested in Basware in 2022
- Basware is an invoice processing and AP automation platform
- Based in Menlo Park, California, Accel-KKR invests in tech companies
Accel-KKR’s portfolio company Basware, via its subsidiary Genesis Bidco, has announced plans to make an offer to purchase the entire share capital of Glantus Holdings, an accounts payable automation and analytics services provider.
Glantus is headquartered in Dublin, Ireland.
Glantus’ board has unanimously recommended the offer.
“Glantus is an exceptional fit with our investment strategy in terms of size, focus and business model,” said Jason Kurtz, CEO, Basware. “Our proposed acquisition of Glantus will further expand our product suite and we believe add value to customers in an accelerated time.”
Accel-KKR invested in Basware in 2022.
All parties intend to work together to develop Glantus in the private domain following its acquisition and delisting, according to a release. Glantus went through an IPO to join the AIM market of the London Stock Exchange in May 2021.
The deal, subject to obtaining all necessary approvals, is expected to be finalised in Q4 of 2023.
Basware is an invoice processing and AP automation platform. The company is based in Espoo, Finland.
Based in Menlo Park, California, Accel-KKR invests in tech companies.