Beanworks Announces Acquisition by Quadient to Advance Progress as an Vital Software for Accounting Teams Throughout the world

VANCOUVER, British Columbia, March 25, 2021 /PRNewswire-PRWeb/ — Beanworks, the accounts payable (AP) automation leader, currently introduced that it has been obtained by world wide powerhouse Quadient. Quadient acquired a the vast majority stake of c.96{f13b67734a7459ff15bce07f17c500e58f5449212eae0f7769c5b6fbcf4cc0c4} in Beanworks, with two essential leaders retaining a minority equity stake. Quadient has a mechanism to increase its possession to 100{f13b67734a7459ff15bce07f17c500e58f5449212eae0f7769c5b6fbcf4cc0c4} in the a long time to come. The acquire price tag, excluding transaction-linked fees, amounts to somewhat over $85M USD ($106M CAD). Income is anticipated to reach approximately $8M USD ($10M CAD) at the conclusion of 2021. Beanworks was started in 2012 and is headquartered in Vancouver, Canada. The company has close to 90 employees these days and carries on to accumulate industry and user awards for the completeness and relieve of use of their answer.

This deal is the end result of a meteoric increase for Beanworks. Regardless of the world pandemic, Beanworks saw 70{f13b67734a7459ff15bce07f17c500e58f5449212eae0f7769c5b6fbcf4cc0c4} year-more than-12 months profits development in 2020, triggered by accounting teams’ rising reliance on electronic methods. Beanworks empowers accounting groups to realize success, with over 800 buyers processing more than $14.2 billion USD a yr via the platform.

This acquisition will allow Beanworks to improved guidance existing and foreseeable future buyers alike, further solidifying Beanworks as the necessary tool for accounting teams all over the world. With this strategic transfer, Beanworks will unlock access to Quadient’s world distribution network and new most effective-in-class abilities and integrations. Also, this transfer will immediately advance Beanworks’ world wide expansion initiatives, especially within just the European market place.

“By combining our globe-course alternative with Quadient’s world wide arrive at and R&D firepower, we can keep on to are living out our mission to guidance accounting teams everywhere you go,” claimed Beanworks CEO Catherine Dahl. “We are thrilled to far better support our recent and upcoming customers’ expanding demand for an all-in-just one solution enabling them to cut down charge, cut down hazard and aid remote operate with relieve.”

Beanworks is an personnel-owned company, with all crew customers getting equity on finishing their 3rd month. This sale rewards the tricky do the job of the staff members, both equally through Beanworks collaborating in the exit and in becoming a member of the much larger Quadient team. Beanworks is the most recent in a collection of major tech exits by Canadian startups. Not only is Beanworks retaining all staff, but will quickly be escalating the group to meet the challenge of deploying its remedy globally at scale. CEO Catherine Dahl and President Karim Ben-Jaafar will continue to be in their existing roles.

“It is with good enjoyment that we welcome the Beanworks group and clients to Quadient,” claimed Geoffrey Godet, chief executive officer at Quadient. “Under Catherine’s leadership, they created a passionate community, devoted to driving change via innovation, earning them a fantastic in good shape for the Quadient portfolio. With Beanworks’ and Quadient’s strengths now merged, we are nicely-positioned to further more our mission to assistance our shoppers remodel their organization by leveraging cloud-based mostly options, good workflows and digital payment to accelerate their company procedures. We look forward to supporting Beanworks’ integration and growth into Quadient’s international marketplaces in the coming months.”

About Quadient®
Quadient is the driving drive guiding the world’s most significant shopper ordeals. By focusing on four crucial solution parts including Shopper Encounter Management, Business Method Automation, Mail-Connected Options, and Parcel Locker Methods, Quadient can help simplify the link amongst people today and what matters. Quadient supports hundreds of thousands of shoppers all over the world in their quest to make pertinent, personalized connections and obtain purchaser experience excellence. Quadient is shown in compartment B of Euronext Paris (QDT) and is element of the CAC® Mid & Small and EnterNext® Tech 40 indices.
For more facts about Quadient, go to quadient.com.

About Beanworks
Beanworks is an necessary all-in-a person cloud-centered accounts payable automation remedy for the world’s accounting groups. Beanworks aids providers change their AP workflows from conclusion to end and empowers accounting teams to triumph by supplying them entire handle above their AP procedures remotely, from any place in the environment. Learn more https://www.beanworks.com.

Contacts
Joe Scolaro, Quadient
Worldwide Press Relations Manager
+1-866-883-4260 Ext. 1590
[email protected]
Sandy Armstrong, Sterling Kilgore
Account Executive
+1-630-964-8500
[email protected]
Investors Relations, Quadient
Laurent Sfaxi
+33 1 45 36 61 39
[email protected]
Caroline Baude
+33 1 45 36 31 82
[email protected]