Sidetrade (Euronext Growth: ALBFR.PA),a Boulogne-Billancourt, France-based provider of AI-powered Order-to-Cash solutions, acquired CreditPoint Software, a Tulsa, OK-based provider of real time B2B credit risk management solutions.
This acquisition will be made in cash for an estimated €3 million and paid in part on the signing of the agreement with the rest scheduled for end-2023, which is subject to certain customer renewals. The amount includes an earn out based on the sales achieved by Sidetrade for CreditPoint Software’s solution over the next three years.
Withe the acquisition, Sidertrade will accelerate growth of its solution for B2B credit risk management.
Founded in 2006 and led by John C. Powers, CEO, CreditPoint Software is a software company specializing in comprehensive B2B credit risk management solutions. It has developed a cloud-based platform that leverages real-time connection and monitoring for over 20 credit rating agencies worldwide including Dun & BradstreetTM, CreditsafeTM, ExperianTM, EquifaxTM, TransUnionTM as well as S&P and MoodysTM. By standardizing external data from multiple sources within a single repository, the company makes it possible for companies to combine this information with their internal financial and customer data on credit risk exposure. This enables Credit Management teams to automate and streamline decision-making, resulting in the ability to auto decide up to 100% of initial, increase and renewal decisions.
CreditPoint Software has an active portfolio of around 30 customers in North America and serves multinationals such as Nutrien, BP, Edelman and Caterpillar.
Led by CEO Olivier Novasque, Sidetrade provides a SaaS platform dedicated to securing and accelerating cash flow. Its AI, nicknamed Aimie, analyzes $4.6 trillion worth of B2B payment transactions daily in the Sidetrade Cloud to predict customer payment behavior and the attrition risk of more than 21 million companies worldwide. Aimie recommends the best cash collection strategies, automates actions on the Order-to-Cash process, and dematerializes customer transactions to enhance productivity, performance and working capital management. The company has employees based in Paris, London, Birmingham, Dublin, Houston, and Calgary, serving global businesses in more than 85 countries. Amongst them, there are Tech Data, KPMG, Nespresso, Hearst, Expedia, Criteo, Manpower, Securitas, Randstad, Engie, Veolia, Inmarsat, and Bidfood.
FinSMEs
03/07/2023