(MENAFN- Caribbean News Global) AHRENSBURG, Germany & HEIDELBERG, Germany–(BUSINESS WIRE)–#ILM - xSuite Group, a globally leading software provider in the field of Accounts Payable Invoice automation (APIA), acquires tangro, a specialist in Inbound Document Management Software based in Heidelberg, Germany. The Acquisition is subject to approval by the regulatory authorities.
For the strategic development of both companies, the acquisition marks an important milestone as their combined position as a leading provider in business process automation focusing on the SAP ecosystem will be strengthened. The acquisition enables xSuite to expand its range of offerings in the Order-to-Cash area and enhance its expertise in Purchase-to-Pay processes. This will provide the global customer base of both companies with access to an even more powerful product portfolio in the future.
Additionally, the transaction goes hand in hand with a consistent future orientation in the SAP environment. Together, xSuite and tangro can offer the most advanced solutions that seamlessly integrate into the SAP landscape, thus decisively driving the digital transformation of business processes. This is particularly evident in Clean Core strategies in the context of S/4HANA Cloud and Business Technology Platform (BTP).
The new partnership creates a strong strategic location for the xSuite Group in Southern Germany, where tangro employees will contribute their high technical expertise. Customer and partner support in the region will thus be further improved. Furthermore, the innovative strength of both companies will be bundled, which will make an important contribution to the strategic development of the xSuite Group.
“The acquisition by xSuite Group opens up enormous opportunities for tangro as a company and for our customers alike,” says Patrick Etter, Managing Director at tangro, who will take over the general management from the exiting founder and majority shareholder Andreas Schumann.“We are convinced that through collaboration with xSuite, we can achieve our common strategic goals faster and provide even greater value to our customers in automating their business processes.”
“The acquisition of tangro is an important step for us to strategically expand our solution offering and further strengthen our position as a leading provider in the field of digital business process management,” adds Matthias Lemenkühler, CEO of xSuite Group.“We look forward to working with the tangro team and shaping the future of the SAP environment together with strong innovations. The partnership is a clear landmark of the success-driven ambition and commitment of both companies to align their product portfolios optimally with the needs and requirements of their customers.”
About xSuite
xSuite, headquartered in Ahrensburg/Hamburg, is a leading software provider specializing in the automation of document-based processes, with a focus on the SAP ecosystem. Its core competency lies in Accounts Payable Invoice Automation (APIA) including E-Invoicing for leading companies worldwide as well as public authorities. The portfolio is complemented by solutions for procurement and order processes as well as archiving. With xSuite, more than 300,000 users process over 80 million documents annually in over 60 countries. xSuite has been successful in the market for 30 years and employs 240 people.
About tangro
tangro, based in Heidelberg, has been supporting companies for 25 years in automating their document processing for all relevant document types in Purchase-to-Pay and Order-to-Cash processes, as well as for all input channels. The company develops focused and intelligent software solutions for incoming documents and digitizes entire workflows. tangro's solutions seamlessly integrate into the SAP ERP and S/4HANA environments of its customers and are SAP-certified. The software is used by over 400 companies in 30 countries worldwide.
Contacts
Barbara Wirtz
xSuite Group
Tel. +49 4102/883836
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