Buy-side advisory, Valuation
Basware acquires the network and e-invoicing activities of Certipost
In 2012, Basware, the Finnish supplier of purchasing and invoicing software, acquired the network and e-invoicing activities of Certipost. Certipost, a subsidiary of Bpost, is a specialist in secure electronic data exchange and is active in Belgium and the Netherlands. With the acquisition Basware added around twelve million transactions to its global open network.
In order to ensure the further development of Certipost’s electronic document exchange business, expanding scale was indispensable. As electronic invoicing was not Bpost’s core business, a partner with a wider international reach was sought. Bpost found that partner in Basware. Certipost’s activities in the field of document security, digital certificates and the Belgian electronic identity card fell outside the scope of the transaction with Basware and remained part of Bpost.
The acquisition enabled Basware to grow into the largest trading network for buyers and suppliers and to reach 150 million transactions by the end of 2015. As a result of the expected vast growth of the e-invoicing market and the acquisition of Certipost, Basware strongly expanded its position in the Benelux market, especially in the SME segment.
Certipost was founded in 2002 by Bpost and Belgacom. Bpost became the only shareholder in 2008. According to the Belgian postal operator, in 2011 some 80,000 companies used Certipost’s technology to exchange documents electronically, adding a European reach of more than 100,000 companies via roaming. At the time of the acquisition, Certipost employed 84 people.