Düsseldorf/Stuttgart/Stockholm, 23 November 2021 – Onventis, the Source-to-Pay procurement suite provider announces the acquisition of Swedish spend analytics specialist Spendency, strategically expanding its product offering. The acquisition is backed by software investor Main Capital Partners (“Main”). The financial details were not disclosed. The Spendency and Onventis leadership teams share a common vision of growth with the aim of becoming a leading European software group, while also transforming the field of purchasing and finance through a single digital spend management ecosystem.
I am proud to announce the next growth step of the Onventis Group. The Swedish spend analytics specialist Spendency becomes a full part of the Onventis Group and with the acquisition of Spendency we are expanding our Source-to-Pay portfolio with high class market leading spend analytics technology. Secondly, with this acquisition, we will now be active in the Nordics and UK. Finally, the Spendency solution will soon offer much more than analysing spend through artificial intelligence, process mining, supplier risk, supply chain and sustainability analytics. Together we are on a mission to transform purchasing and finance holistically through a single digital spend management ecosystem.
Frank Schmidt, CEO Onventis
By joining the All-in-Procurement Suite of Onventis, Spendency is able to maximise its growth outlook. This acquisition allows us to evolve from a passionate SaaS start-up with a regional focus to a global market solution thanks to the amazingly dedicated and talented people behind Onventis. We strongly believe that Onventis is the right partner to foster the development of Spendency, particularly because our solution can be immediately offered to Onventis’ customers without any long integration processes.
Arvid Fredin, Former CEO of Spendency and new General Manager UK & Nordics
We are thrilled to have enabled another highly strategic step for Onventis. Our aim is to continuously expand Onventis’ product suite to maximise the customer value proposition, while simultaneously focusing on the cultural fit between the companies. Through the addition of Spendency to Onventis, we are convinced that Onventis Group’s success will continue to rapidly accelerate.
Sven van Berge Henegouwen, Partner and Head of DACH activities at Main Capital Partners