KUALA LUMPUR, March 28 (Bernama) -- Kyriba, the global leader in cloud treasury and finance solutions, is in advanced talks with Bridgepoint - an international private equity group - to receive a US$160 million (US$1 = RM4.08) investment round to accelerate innovation and growth.
Once the deal is inked, Bridgepoint will have a majority stake in the business, and Kyriba will be valued at US$1.2 billion while Daher Capital, Iris Capital and Kyriba chairman and chief executive officer, Jean-Luc Robert will remain as investors in the company.
“Bridgepoint will help us fulfil our mission of enabling CFOs (chief financial officers) and treasury executives to be more agile and efficient in managing their global cash and liquidity,” said Robert.
With the new capital, Kyriba will enhance product development, customer support and expand its ecosystem. It will specifically invest US$60 million into product innovation over the next two years, according to a statement.
Kyriba’s cloud platform seamlessly connects siloed financial systems to enable global organisations to improve key capabilities for cash and risk management, payments and working capital optimisation.
Its unique value proposition resulted in a record growth year in 2018, including surpassing US$110 million in revenue, netting 229 new clients and also planning to acquire FiREapps, a leader in enterprise currency management.
Kyriba will continue to be led by Robert and will operate with its current management structure and strategy. For more information, contact https://www.kyriba.com and http://www.bridgepoint.eu.
-- BERNAMA
No comments:
Post a Comment