Payroll giant ADP has agreed to buy DO2 Technologies, a Calgary, Alberta-based company that provides electronic invoicing software.
The acquisition is expected to help ADP expand its position in the procure-to-pay market. "This acquisition is part of a broader strategy to provide solutions for CFOs and finance executives," said Kathy Amooi, senior divisional vice president and general manager of ADP's Tax and Financial Services business, in a statement. Terms of the deal were not disclosed.
The technology acquired from DO2 handles the procure-to-pay function, from purchase order integration and transaction processing to discount management, price compliance, approvals workflow, and payment. The solution is delivered through a Software-as-a-Service model.
The acquisition is subject to the customary closing conditions.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access