Sidetrade acquires 100% of Amalto for $16m
Sidetrade’s Fusion100 growth plan picks up speed
Sidetrade (Euronext Growth: ALBFR.PA), - software vendor of an AI‑powered platform dedicated to Order-to-Cash (O2C) cycle management – has signed a definitive agreement to acquire Amalto, one of the main players in the dematerialization 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.
Sidetrade acquires 100% of Amalto for $16m
Sidetrade has acquired 100% of Amalto for a firm price of $16m in cash upon signature. In addition managers may receive an earn-out payment at the end of 2024, depending on revenue growth at that time. Sidetrade will finance this transaction via bank debt, to retain cash for possible further acquisitions. At the time of the transaction, Sidetrade's cash position was €24m ($28.6m), including treasury shares.
Sidetrade’s Fusion100 growth plan picks up speed
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.
Amalto’s excellence in electronic invoicing- particularly in North America- fits in perfectly with Sidetrade’s global comprehensive O2C offering. The acquisition strengthens Sidetrade’s footprint in a rapidly expanding global market. 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.
The new organization detailed in the press release of 6 April 2021 is being implemented to integrate Amalto's teams and product offerings into the Sidetrade family, and strengthen Sidetrade's presence in the North American market. Sidetrade will make Amalto's Houston offices its US headquarters.
As a result of this operation, Sidetrade could be generating nearly 20% of its revenues in North America, as early as this year.
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Next financial release
2020 Annual Results: 20 April 2021 (after stock market closes)
Investor relations
Christelle Dhrif, CCO
+33 6 10 46 72 00 /cdhrif@sidetrade.com
UK media relations
Amanda Bun, PR Account Director
+44 7595 768 277/amanda@luminouspr.com
About Sidetrade (www.ww.sidetrade.com)
Sidetrade (Euronext Growth: ALBFR.PA) is a fast-growing international SaaS company unlocking customer value.
Sidetrade’s next-generation AI, nicknamed Aimie, analyzes huge amounts of B2B customer payment behavior data to intelligently automate the order-to-cash process. Based on predictive analytics, Aimie delivers actionable recommendations in real time to enhance retention, upsell/cross-sell, and cash collection. Aimie is a real game-changer in augmented intelligence- a system whereby individuals and machines work together faster and smarter, in complementary ways.
Sidetrade has a global reach, with 250 talented employees based in Paris, London, Birmingham, Dublin, Amsterdam, Houston, and Calgary serving clients in 80 countries. Over 2,700 businesses from large multinationals to mid-size enterprises, in a range of industries, count on Sidetrade technology to outperform the competition.
For further information, visit us at www.sidetrade.com and follow us on Twitter @Sidetrade.
About Amalto (www.ww.amalto.com)
Founded in 2005, Amalto Technologies provides innovative enterprise-level solutions enabling B2B integration and electronic document exchange. Amalto delivers services to various markets including Business Services, Chemicals, Environmental, Manufacturing, Oil & Gas, and Transportation. Present in the U.S. (Houston), Europe (Paris) and Canada (Calgary), the company supports Fortune 100 companies as well as Small-to-Medium Enterprises.
With millions of transactions and billions of dollars managed each year on behalf of its North American and European customers, Amalto delivers secured and flawless transactions between buyers, vendors, logistics providers, banks and many other types of Trading Partners.
In the event of any discrepancy between the French and English versions of this press release, only the French version is to be taken into account.
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