Basware Acquires German E-invoice Network First Businesspost
Basware, a purchase-to-pay solutions company, has acquired First Businesspost, a German electronic invoicing (e-invoicing) network. In 2011 First Businesspost delivered over 4.5 million e-invoices on behalf of its buyers and suppliers. The Open Network, including First Businesspost, has 130 interoperating networks globally, with approximately 120,000 active buyers and 495,000 suppliers transacting worldwide.
One of First Businesspost’s core capabilities is its Virtual Printer Driver Technology, which helps on-board suppliers quickly and easily. Basware will integrate this technology into its supplier on-boarding solution – accelerating and simplifying the global delivery of e-invoices.
Esa Tihilä, chief executive officer (CEO), Basware, said: “The acquisition of First Businesspost represents Basware’s commitment to expand the Open Network globally. The combined spend delivered across Basware and First Businesspost’s networks in 2011 showcases the significance of this acquisition in terms of global reach and will bring together the expertise of two major e-invoicing providers.”