Thursday 29 April 2021
SaaS company Sidetrade has signed a definitive agreement to acquire Amalto one of the main players in the dematerialisation of B2B financial transactions in North America for $16m. With this deal, Sidetrade enriches its O2C offering, and accelerates its penetration of the North American market.
This acquisition is a major milestone in Sidetrade’s Fusion100 strategic plan, which aims to reach $100m in revenue by 2025. With Amalto now on board, cumulative revenue could approach $43m in 2021, including nearly $7m in North America, Sidetrade said.
Amalto’s excellence in electronic invoicing- particularly in North America- fits in perfectly with Sidetrade’s global comprehensive O2C offering. Furthermore, Sidetrade’s and Amalto’s joint expertise will help their customers comply with changing regulations, as e-invoicing is becoming mandatory in many EU countries, including France.
Sidetrade will make Amalto’s Houston offices its US headquarters.