€100 million was settled with 50% cash and 50% newly issued Unifiedpost shares valued at €20 per share. A conditional earn-out payment of €13 million was also included in the deal.
“The acquisition of Crossinx means a significant expansion of Unifiedpost. Not only do we strongly enlarge our geographical footprint in the DACH region, which is crucial for our pan-European roll out in 26 countries this year ... important and new synergies are created by this combination of businesses,” comments Unifiedpost CEO and founder Hans Leybaert.
With the acquisition of Crossnix, the combined group can not offer full order-to-cash and procure-to-pay solutions to all industry sizes; small businesses, SME’s and large enterprises.
Through the addition of Crossnix’s 350,000 SME clients, the Unifiedpost network now includes almost 1 million businesses. The two will now provide clients with cross-synergy strengths; Crossnix benefits from Unifiedpost’s payment and supply chain finance solutions, Unifiedpost gains Crossnix’s process automation services including invoice approval, order reconciliation, and worldwide tax compliance.
“The combined networks of Unifiedpost and Crossinx will create a game-changer in the market. The joint cloud network will also include artificial intelligence and blockchain and will enable corporates to communicate between each other and use a variety of services - based on a single connection,” adds Crossnix CEO and founder Marcus Laube.