Cash & Liquidity ManagementFXKyriba set to change hands in $1.2bn deal

Kyriba set to change hands in $1.2bn deal

Private equity firm set to snap up treasury management specialist in $1.2bn deal.

Bridgepoint, the private equity investor, looks set to take majority control of Kyriba, according to reports.

The deal, Private Equity News says, values the treasury-focused technology company at approximately $1.2bn. If the deal goes through, Bridgepoint looks set to take control of 75% of Kyriba – in a move that strengthens the investor’s growing US portfolio.

According to the Federal Trade Commission, the deal passed an antitrust review earlier this month.

Ongoing growth

Kyriba surpassed $110M in revenue in 2018, a significant milestone for SaaS technology companies, and is anticipating 40 percent growth this year. Last year, the tech firm signed more than 229 new enterprise clients, including Eastman Chemical, Eisai Co., Ltd., Hitachi High-Tech, Informa, Palo Alto Networks, Peloton, Ripple Labs and many more.

Kyriba were unavailable for comment when approached by The Global Treasurer, while Bridgepoint have declined to comment so far. We’ll share more details as soon as possible.

Series of deals

The deal follows hot on the heels of Bridgepoint entering into an agreement to sell eFront, the end-to-end alternative investment management software and solutions provider, the BlackRock. The $1.3bn cash deal is subject to conditions.

In January, Kyriba announced it will acquire enterprise currency management leader FiREapps, to help CFOs better manage potential losses from foreign exchange (FX) exposures. The combination of the two companies will create the industry’s most robust, end-to-end solution for managing FX risk, it said.

Related Articles

SWIFT: The reality of real-time payment development

Payments SWIFT: The reality of real-time payment development

4m Austin Clark
Rio Tinto and Cargill pioneer industry’s first fully integrated paperless trade

Payments Technology Rio Tinto and Cargill pioneer industry’s first fully integrated paperless trade

3h Tom Lemmon
Commerzbank and LBBW execute landmark trade finance transaction via third party

Blockchain Commerzbank and LBBW execute landmark trade finance transaction via third party

4d Tom Lemmon
What will tech-led trade finance look like?

FinTech What will tech-led trade finance look like?

6d Nash Riggins
Case study: Using technology to remove the payments compliance headache at Johnson Electric

Case Studies Case study: Using technology to remove the payments compliance headache at Johnson Electric

6d Austin Clark
IBM launches blockchain supplier management platform

Automation IBM launches blockchain supplier management platform

1w Jay Ashar
Digitisation and technology upgrades are top treasury priorities

Banking Digitisation and technology upgrades are top treasury priorities

1w Jay Ashar
Commerzbank tests first blockchain-based machine-to-machine payment solution

Blockchain Commerzbank tests first blockchain-based machine-to-machine payment solution

1w Austin Clark

Whitepapers & Resources

Are You Ready to Implement your GRC Solution?

Are You Ready to Implement your GRC Solution?

4m
TIS Sanction Screening Survey Report

Payments TIS Sanction Screening Survey Report

1m
The Challenges of Regulatory Reporting

Brexit The Challenges of Regulatory Reporting

7m
Mitigating Costs and Exposure - A Multilateral Netting White Paper

Mitigating Costs and Exposure - A Multilateral Netting White Paper

6m