OpusCapita and Analyste Enter into Transaction
- OpusCapita Separates Its Cash Management Segment from Source-to-Pay
- New Providence Strategic Growth-owned Company Becomes Owner of the Cash Management Business Segment
- The New Company Acquires Analyste to Create a Nordic Forerunner in Cash Management Solutions
- Analyste’s Current Main Owner Verdane Becomes a Minority Owner of the New Company, Along with Operative Management
Helsinki – 29. June 2020: OpusCapita Solutions Oy (“OpusCapita”), a Finnish provider of digital solutions and transactions processing technology for businesses, today announced that its owner, Providence Strategic Growth (“PSG”), the growth equity affiliate of premier global asset management firm Providence Equity Partners (“Providence”), has entered into a definitive agreement with Analyste International Oy (“Analyste”), a Finnish specialist in the provision of cash management and treasury solutions, whereby a new company, which will own OpusCapita’s Cash Management business segment, will acquire the Analyste platform to create a leading pure-play cash management solutions service (the “NewCo”) in the Nordics. Financial terms were not disclosed.
Pursuant to the agreement, OpusCapita has obtained the regulatory approvals required to separate the Cash Management business from the Source-to-Pay segment. PSG, the sole shareholder in OpusCapita, will own a majority stake in the NewCo, and Verdane – a Northern European growth equity investor and Analyste’s primary sponsor – will own a minority stake alongside the companies’ management teams.
The NewCo will provide SaaS solutions that drive efficiency through process automation for approximately 2,300 customers in the SMB, enterprise, and public segments operating in more than 100 countries. With the help of these solutions, customers will be able to improve cash visibility and forecasting, streamline processes, and enforce robust governance. Importantly, this combination will accelerate the innovation of new services to enhance customers’ and employees’ experiences. The new group will have the resources to address the international cash management market and be better positioned to address customers’ increasingly complex cash-related issues. The NewCo will have over 140 employees located primarily in the Helsinki area and Tampere in Finland, as well as in Stockholm, Sweden, Toruń, Poland, and Chandigarh, India.
Mikko Soirola, the incoming CEO of the NewCo and current CEO of Analyste, said: “We are excited to join forces with OpusCapita’s Cash Management team and look forward to working together to create an international powerhouse in cash management solutions. Our combination provides us the scale, talent and operational efficiencies necessary to innovate and deliver a superior proposition to our customers, whose evolving business objectives require more sophisticated solutions.”
Jukka Sallinen, the incoming Deputy CEO of the NewCo and current Head of Cash Management at OpusCapita, added: “The volume and breadth of financial data processed today create great scope for innovation and we are confident our combination places us in a strong position to deliver a better SaaS offering. We look forward to leveraging our combined capabilities to serve our customers, employees, and other stakeholders.”
The transaction is expected to close before the end of July 2020.
Analyste offers cash management & treasury solutions to small, medium-sized and large enterprises, globally. The company’s extensive experience and long-established Nordic tradition of excellence is supported by a wide range of modular, on-demand, plug & play solutions tailored to meet individual business needs.
OpusCapita enables organizations to buy and pay quickly and securely, with a real-time view of their business. Our customers use our source-to-pay and cash management to connect, transact and grow. OpusCapita processes hundreds of millions of electronic transactions annually on our Business Network.
About Providence Strategic Growth
Providence Strategic Growth (“PSG”) is an affiliate of Providence Equity Partners (“Providence”). Established in 2014, PSG focuses on growth equity investments in lower middle market software and technology-enabled service companies. Providence is a premier global asset management firm that pioneered a sector-focused approach to private equity investing with the vision that a dedicated team of industry experts could build exceptional companies of enduring value. Since the firm’s inception in 1989, Providence has invested in more than 200 companies and is a leading equity investment firm focused on the media, communications, education and information industries. PSG is headquartered in Boston, MA, with offices in London and Kansas City. For more information on PSG, please visit https://www.provequity.com/private-equity/psg, and for more information on Providence, please visit https://www.provequity.com.
Verdane is a specialist growth equity investment firm that partners with ambitious Northern European tech-enabled businesses to help them reach the next stage of international growth. Verdane pioneered portfolio acquisitions in Northern Europe in 2003, and announced a complementary fund strategy entirely dedicated to direct investments in 2018. Verdane’s eight funds hold €1.8bn in total commitments and have made over 120 investments in growth sectors including advanced industry, consumer internet, energy & resource efficiency and software. Category leaders backed by Verdane include Desenio, EasyPark, Farmasiet, MatHem and momox. Verdane’s more than 50 employees, based in Berlin, Copenhagen, Helsinki, London, Oslo and Stockholm, are dedicated to being the best growth partner in Northern Europe. www.verdane.com.