Sweden-headquartered Medius has agreed to be acquired by private equity firm Marlin Equity Partners from Novax, InnovationsKapital and minority shareholders.
Founded in 2001, Medius is an invoice automation solution provider, helping throughout the purchase-to-pay process. The company offers 3-way matching, workflow automation, performance benchmarks, invoice data capture, case studies and solution overview.
Following the deal, which is expected to close in Q3, Medius will continue global expansion and the development of its cloud-based solutions.
Marlin Equity Partners principal Jan-Olivier Fillols said, “Medius has achieved impressive growth that is being driven by strong demand for its innovative cloud-based invoice automation technology.
“We are pleased to welcome Medius to our family of software businesses and are excited to support the company’s vision of helping more organizations cost-effectively automate and reduce time-consuming, manual tasks and improve employee productivity.â€
The company’s only disclosed investment was around $3.6m in an investment in 2009.
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