MADISON, Wis.--(BUSINESS WIRE)--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.
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.