Acquisition of Procserve seamlessly complements Basware’s Commerce Network, enabling efficient automation of the purchase-to-pay process
LONDON and NEW YORK CITY – 1 MAY 2015 – Mooreland Partners, the leading independent investment bank providing M&A and private capital advisory services to the global technology industry, announced that it has acted as the sole financial advisor to the shareholders of Procserve on its sale to Basware Oyj.
Headquartered in London, Procserve has been serving the UK government’s e-commerce strategy since 2006. Its eProcurement networks are used by over 33,000 organisations to buy, sell, and share information within online communities. The Commerce Networks of both organisations will complement each other seamlessly and will enable government bodies to operate more efficiently by automating the purchase-to-pay process, freeing up time and money that can be invested in frontline services.
The acquisition significantly strengthens Basware’s position in the public sector, combining Procserve’s UK government experience with Basware’s established global expertise in purchase-to-pay and e-invoicing, and further solidifies Mooreland Partners’ position among the most active advisors to the enterprise software sector.
Basware provides enterprise purchase to pay and financial management solutions in the United States, Europe, and the Asia Pacific. The Company’s enterprise purchase to pay solution automates procurement, accounts payable, and travel and expense management processes. Basware also offers a solution for invoice automation, including invoice data capture, invoice matching, review and approval, and transfer for payment and archiving. It offers its products on site, as well as a service. The company was founded in 1985 and is headquartered in Espoo, Finland.