Sidetrade, a publisher of an AI-powered platform, dedicated to the management of the Order-to-Cash (O2C) cycle – has announced today conclusion of the acquisition agreement of Amalto, one of the main players in the dematerialisation of inter-company financial transactions in North America, for an amount of $16m.
With this deal, Sidetrade enriches its O2C offering, and accelerates its penetration of the North American market.
Sidetrade’s offer is at $16m in cash for 100% of Amalto’s equity. In addition, the directors could receive an earn-out at the end of 2024 depending on the growth of Amalto’s revenues at that date. Two months after the launch of its Fusion 100 plan aiming for revenue of $100m by 2025, acquiring Amalto allows Sidetrade to reach an important milestone in the execution of its plan with a cumulative revenue that could approach $43m in 2021, including $7m in North America.
Olivier Novasque, Founder, Chairman and CEO of Sidetrade, comments: “The Amalto deal is a powerful gas pedal for Sidetrade’s international business growth. Amalto’s innovative solutions will enrich our B2B AI platform, and the intention is this will be rapidly available to all Sidetrade customers. Sidetrade’s Cloud has recorded more than $2.4 trillion in business-to-business transactions over the past three years. Combining the technologies and talents of Sidetrade and Amalto will support our mission to be positioned as a true world-class leader in the O2C market.”