King & Spalding advised Sidetrade (Euronext Growth: ALBFR.PA), in the acquisition of 100% of the capital and voting rights of Amalto for USD 16 million. Through this transaction, Sidetrade enriches its offer on the Order-to-Cash cycle and accelerates its penetration of the North American market.
Sidetrade is a leading provider of cloud-based artificial intelligence solutions for accelerating revenue and cash flow. Sidetrade provides a 100% SaaS platform to digitize and automate processes related to accounts receivable financial management, Order-to-Cash (or O2C). Over the past 3 years, Sidetrade has processed more than 313 million invoices in its Cloud, representing €984 billion in transactions involving more than 6 million debtor companies worldwide. Sidetrade has 250 employees based in Paris, London, Birmingham, Dublin and Amsterdam.
Founded in 2005, Amalto Technologies provides enterprise solutions for B2B integration and order-to-cash management services, including electronic invoicing. The company operates in Europe and North America with offices in Paris, Houston and Calgary.