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.
